SMBC Aviation Capital has finalised a US$1.7bn greenshoe upsize of its original US$2bn syndicated facility announced in February as part of the acquisition of Sumisho Air Lease Corporation. The upsizing brings the total transaction to US$3.7bn, with the additional capital to be used for general corporate purposes.
A total of 33 financial institutions participated in the general syndication, bringing overall participation to 40, following the successful raising of US$2bn from seven banks during the senior syndication phase in February. The participating banks are globally diversified across Asia, Europe and the United States, with 15 new banking relationships established by SMBC Aviation Capital.
The upsize increases the five-year tranche to US$2.28bn and the seven-year tranche to US$1.42bn.
Commenting on the transaction, Aisling Kenny, Chief Financial Officer of SMBC Aviation Capital, said: “The upsizing of this facility provides long-term, competitively priced capital to support SMBC Aviation Capital’s increased scale and strong growth trajectory. This transaction also deepens our existing banking relationships, and we are pleased to welcome an additional fifteen new banking partners. The strong reception to this transaction, reflected in both its scale and the geographic diversity of participating banks, underlines the strength of our franchise and the global reach of our business.”
