NAC closes US$350m Unsecured Syndicated Revolving Credit Facility (RCF)

Nordic Aviation Capital (NAC) has successfully closed a US$350m Unsecured Syndicated Revolving Credit Facility (RCF). The initial credit facility was arranged by Citi Global Transportation Banking and was supported by BNP Paribas, Crédit Agricole, and Deutsche Bank. The RCF has a 3-year term, and the proceeds will be used to refinance aircraft as well as support future acquisitions. The RCF will rank pari passu with all other unsecured indebtedness of the Borrower, a wholly-owned subsidiary of NAC. The RCF, which is intended to be further upsized through an accordion feature, is one of the cornerstones of the NAC unsecured funding strategy. This is another landmark transaction for the 26-year-old company and a significant step in migrating to unsecured financing.