STAMFORD, Conn., Jan. 26, 2015 /PRNewswire/ -- Aircastle Limited
("Aircastle" or the "Company") (NYSE: AYR) announced today that it increased the
size of its existing unsecured revolving credit facility with
Citibank, N.A., Goldman Sachs Bank USA, J.P. Morgan Chase Bank N.A. and Royal
Bank of Canada, as joint lead
arrangers, Citibank, N.A. as agent; and Citibank, N.A., Goldman
Sachs Bank USA, J.P. Morgan Chase
Bank N.A., Royal Bank of Canada,
Credit Agricole Corporate & Investment Bank, DBS Bank Ltd., Los
Angeles Agency, Union Bank, N.A. and Deutsche Bank AG New York
Branch, as lenders. The facility, which will be used for
working capital, including the acquisition of aircraft, was
increased to $600 million from
$450 million.
Mike Inglese, Aircastle's CFO,
stated, "We appreciate the strong continued support of our bank
group and are pleased to further increase Aircastle's unsecured
revolving credit facility to $600
million. This facility, together with our recent
$500 million senior note offering,
evidence Aircastle's well-diversified and ready access to the
capital markets on attractive terms. These financing facilities
enhance our ability to grow and provide shareholders with solid
returns."
About Aircastle Limited
Aircastle Limited acquires, leases and sells commercial jet
aircraft to airlines throughout the world. As of September 30, 2014, Aircastle's aircraft
portfolio consisted of 140 aircraft on lease with 61 customers
located in 37 countries.
Safe Harbor
Certain items in this press release and other information we
provide from time to time, may constitute forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995 including, but not necessarily limited to,
statements relating to our proposed public offering of notes and
our ability to acquire, sell, lease or finance aircraft, raise
capital, pay dividends, and increase revenues, earnings, EBITDA,
Adjusted EBITDA and Adjusted Net Income and the global aviation
industry and aircraft leasing sector. Words such as "anticipates,"
"expects," "intends," "plans," "projects," "believes," "may,"
"will," "would," "could," "should," "seeks," "estimates" and
variations on these words and similar expressions are intended to
identify such forward-looking statements. These statements are
based on management's current expectations and beliefs and are
subject to a number of factors that could lead to actual results
materially different from those described in the forward-looking
statements; Aircastle can give no assurance that its expectations
will be attained. Accordingly, you should not place undue reliance
on any forward-looking statements contained in this press release.
Factors that could have a material adverse effect on our operations
and future prospects or that could cause actual results to differ
materially from Aircastle's expectations include, but are not
limited to, capital markets disruption or volatility which could
adversely affect our continued ability to obtain additional capital
to finance new investments or our working capital needs; government
fiscal or tax policies, general economic and business conditions or
other factors affecting demand for aircraft or aircraft values and
lease rates; our continued ability to obtain favorable tax
treatment in Bermuda, Ireland and other jurisdictions; our ability
to pay dividends; high or volatile fuel prices, lack of access to
capital, reduced load factors and/or reduced yields, operational
disruptions caused by political unrest and other factors affecting
the creditworthiness of our airline customers and their ability to
continue to perform their obligations under our leases and other
risks detailed from time to time in Aircastle's filings with the
SEC, including as previously disclosed in Aircastle's 2013 Annual
Report on Form 10-K, and in our other filings with the SEC, press
releases and other communications. In addition, new risks and
uncertainties emerge from time to time, and it is not possible for
Aircastle to predict or assess the impact of every factor that may
cause its actual results to differ from those contained in any
forward-looking statements. Such forward-looking statements speak
only as of the date of this press release. Aircastle Limited
expressly disclaims any obligation to release publicly any updates
or revisions to any forward-looking statements contained herein to
reflect any change in its expectations with regard thereto or
change in events, conditions or circumstances on which any
statement is based.
Contact:
Frank Constantinople, SVP Investor Relations
Tel: +1-203-504-1063
fconstantinople@aircastle.com
The IGB Group
Leon Berman
Tel: +1-212-477-8438
lberman@igbir.com
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SOURCE Aircastle Limited