LCI agrees two multi-year debt facilities to underpin Australian growth

LCI, the aviation leasing arm of the Libra Group, has finalised two long-term debt facilities to support over US$200m of incremental fleet growth in Australia. Westpac Banking Corporation will act as sole lender, security trustee and agent to support LCI’s recent multi-year agreement to lease four new AgustaWestland AW139 helicopters to Australia’s Westpac Rescue Helicopter Service. The helicopters will be delivered in the second half of 2016 and, following fit-out for emergency medical service (EMS) operations, will be deployed in Northern New South Wales on contract to NSW Ambulance, on behalf of NSW Health within the Government of New South Wales. The high-specification aircraft, including full medical and rescue equipment and winch, have been financed under a tripartite, 10-year arrangement with Westpac Banking Corporation, an existing financier of LCI and long-term naming rights sponsor of the helicopter operator. LCI also recently concluded an agreement to lease six new AgustaWestland AW139 aircraft to Australian Helicopters, a member of the Babcock Mission Critical Services Group. The aircraft will be progressively delivered to Australian Helicopters through 2015 and 2016 and, following arrival in Australia, will be modified for EMS operations.