Aircraft leasing company SMBC Aviation Capital has finalised a five-year global syndicated finance facility.
The transaction raised US$1.5 billion from 29 financial institutions, 13 of which are new banking relationships for SMBC Aviation Capital. The senior syndication phase saw participation from 10 banks, while the general syndication phase included an additional 19 banks. The syndicated finance facility consists of a US$375 million term loan and a US$1.125 billion revolving credit facility, involving a consortium of American, Asian, Australian, European, and Middle Eastern banks.
Commenting on the transaction, Aisling Kenny, Chief Financial Officer of SMBC Aviation Capital, stated:
“This transaction represents a further milestone in our syndicated banking programme and demonstrates our ability to raise large-scale, competitively priced capital. The deal is global in nature and further increases the diversification of our banking relationships, as we welcomed 13 new banking partners as part of the syndication. The revolving credit facility, which forms 75% of this transaction, will provide further operational flexibility for the future liquidity needs of SMBC Aviation Capital.”
Citigroup Global Markets Asia Limited (Citi) acted as Global Coordinator and, together with eight banks, including Bank of China Limited, Caixabank S.A., Cathay United Bank, DBS Bank Limited, Emirates NBD Capital Limited, Oversea-Chinese Banking Corporation Limited, Taipei Fubon Commercial Bank Co., Limited, and Taishin International Bank Co., Limited, acted as Senior Mandated Lead Arrangers and Bookrunners. Australia and New Zealand Banking Group Limited, Singapore Branch, acted as Mandated Lead Arranger and Bookrunner.
