AAR Corp. has increased its revolving credit facility by US$550 million to US$1.375 billion and extended its maturity by nearly four years to October 2031, strengthening its financing capacity as it pursues growth.
The amended unsecured facility will help finance the previously announced pending acquisition of a controlling interest in MRO Holdings. The previous facility totalled US$825 million and was due to mature in December 2027.
AAR said all existing banking group members had increased their commitments, while two additional banks had joined the facility.
“The increased size, additional financial flexibility, and extended maturity of our revolving credit facility provide AAR with the means to support our growth strategy,” said Dylan Wolin, AAR’s Senior Vice President and Chief Financial Officer.
Wells Fargo acted as lead arranger and administrative agent. Further details are available in the company’s current report filed with the U.S. Securities and Exchange Commission.
