Aircraft lessor Azorra has reported the closing of a US$988 million debt financing facility, including a US$750 million revolving credit facility (RCF) and a US$238 million recourse debt financing.
Overwhelming investor demand led to a significant oversubscription of the financing, prompting a Day 1 increase of the RCF from US$500 million to US$750 million through exercising a built-in accordion. This facility will allow Azorra to continue its growth trajectory, enabling the company to finance the expansion of its aircraft leasing portfolio and acquire additional aircraft.
John Evans, CEO of Azorra, says: “We are thrilled with the strong investor support for this financing. This achievement underscores the confidence in our business model and our commitment to delivering exceptional value to our customers.”
Claudia Ziemer, SVP Finance, Azorra, adds: “Securing this financing is a pivotal moment for Azorra. It significantly strengthens our financial position and provides us with the flexibility to capitalise on growth opportunities in the dynamic aviation industry.”
Citi served as Global Coordinator for the financing, and BNP Paribas, Fifth Third, Natixis, and Société Générale acted as Joint Lead Arrangers. Airbus Bank, Bayern LB, Bank of America, Deutsche Bank, MUFG, PNC, and RBC also participated as co-arrangers.
The financing marks the establishment of new banking partnerships with Airbus Bank, Bank of America, PNC, RBC, and Société Générale.
