Genesis, a Dublin-based commercial aircraft leasing company, has announced that BayernLB has joined its US$450 million warehouse facility as a co-lender. The facility, initially led by CitiBank, now includes BayernLB alongside Morgan Stanley and Bank of America as co-lenders, further strengthening Genesis' financial partnerships.
Genesis Chief Financial Officer Adam Smyth expressed his satisfaction with the addition of BayernLB as a co-lender. He acknowledged the ongoing support from CitiBank, Morgan Stanley, and Bank of America, and welcomed BayernLB to the group. Smyth emphasised Genesis' strategy of diversifying its lender base, highlighting the importance of this collaboration for the company's future growth. He also noted the positive perception of the Genesis platform within the finance community and its confidence in the continuing strength and expansion of the global aviation industry.
Viktor Berta, Director of Aviation & Space at BayernLB, reflected on the significance of the transaction, marking BayernLB's first involvement in an aircraft-secured warehouse facility. Berta expressed his pleasure in adding this product to BayernLB's offerings and welcomed the opportunity to establish Genesis as a valued client. He emphasised the importance of building long-term relationships with expert lessors as a key factor in BayernLB's ongoing growth within the aviation finance sector and expressed gratitude for Genesis' trust in the bank's abilities.
This partnership highlights Genesis' commitment to strengthening its financial base and capitalising on the renewed confidence in the aviation sector. By securing the support of a diversified group of lenders, Genesis is well-positioned to leverage future opportunities in the global aviation industry.
