STAMFORD, Conn., March 29, 2016 /PRNewswire/ -- Aircastle
Limited ("Aircastle" or the "Company") (NYSE: AYR) announced today
that it increased the size of its unsecured revolving credit
facility to $675 million from
$600 million and extended its
maturity by one year to May 2020. The facility will provide
working capital for general corporate purposes, including aircraft
acquisition.
The facility participants consist of nine leading global
financial institutions, 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., MUFG Union Bank, N.A., BNP Paribas
and Deutsche Bank AG New York Branch, as lenders.
Mike Inglese, Aircastle's CFO,
stated, "We appreciate the strong, ongoing support of our bank
group over the past several years. Along with our recent
$500 million senior note issuance,
this expanded and extended facility further strengthens Aircastle's
liquidity profile and financial flexibility and enhances our
ability to secure accretive new investment opportunities."
About Aircastle Limited
Aircastle Limited acquires, leases and sells commercial jet
aircraft to airlines throughout the world. As of December 31, 2015, Aircastle's aircraft portfolio
consisted of 162 aircraft on lease with 53 customers located in 34
countries.
Safe Harbor
All statements in this press release, other than
characterizations of historical fact, are forward-looking
statements within the meaning of the federal securities laws,
including the Private Securities Litigation Reform Act of 1995.
Examples of forward-looking statements include, but are 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 our historical performance and that of our
subsidiaries and on our current plans, estimates and expectations
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 such forward-looking statements which
are subject to certain risks and uncertainties that could cause
actual results to differ materially from those anticipated as of
the date of this press release. These risks or uncertainties
include, but are not limited to, those described from time to time
in Aircastle's filings with the SEC and previously disclosed under
"Risk Factors" in Item 1A of Aircastle's 2015 Annual Report on Form
10-K. 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 expressly disclaims any obligation to revise or
update publicly any forward-looking statement to reflect future
events or circumstances.
For more information on Aircastle, please visit
www.aircastle.com.
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