LCI successfully closes $325m secured asset-backed facility

LCI, the aviation leasing division of the Libra Group, has successfully closed a five-year, $325m asset–backed credit facility for its helicopter-leasing arm LCI Helicopters. The facility was substantially over-subscribed resulting in an enlarged provision to meet demand. An option to increase the facility to $425m was also added. The funds will be used to expand the company’s helicopter fleet. LCI Helicopters, in which KKR Financial Holdings, LLC, holds a minority stake, has been growing at scale since LCI’s entry into the helicopter leasing market in 2012. The commitments for the facility come from a total of eleven lenders from North America, Europe and Asia, including nine new to LCI Helicopters. The transaction was supported by commitments from three main institutions acting as joint lead arrangers and bookrunners: CIT Group, Inc., Nomura Corporate Funding Americas, LLC, and BNP Paribas.