:TrueNoord has closed a new revolving warehouse finance facility of US$360 million with an uncommitted US$150 million accordion feature. This will be used by the specialist regional aircraft lessor to finance business development and expand its portfolio of 50-150 seat aircraft which includes regional jets and turboprops from Embraer, ATR and deHavilland Canada.
The new facility is underwritten by Citibank, Société Générale Corporate & Investment Banking and Royal Bank of Canada – and it supports TrueNoord’s targeted growth strategy which is endorsed by its cornerstone investors Bregal Freshstream, BlackRock and Aberdeen Standard. Citibank will act as agent and security trustee under the facility. Legal advisers Milbank acted for TrueNoord and Clifford Chance represented the banks.
