MINNEAPOLIS, March 3, 2023 /PRNewswire/ — Castlelake Aviation Limited (“CA Ltd.”), a corporate lessor of commercial aircraft focused on financing a portfolio of modern, young, fuel-efficient aircraft, today announced the closing of a $635 million incremental Term Loan B facility. The proceeds of the facility will be used to refinance existing debt and for general corporate purposes.
The facility, which has a maturity date of October 2027, was priced at SOFR plus 2.75% with a SOFR floor of 0.50%, priced at 99.25% representing an Original Issue Discount (OID) of 0.75%.
“We are delighted to have successfully closed this incremental Term Loan B, providing Castlelake Aviation Limited with meaningful flexibility and access to capital to continue growing its portfolio,” said Ronan Kelleher, Chief Financial Officer for Aviation at Castlelake. “With over $3 billion of total financing and demonstrated access to the capital markets, high yield and term loan B market, we believe Castlelake Aviation Limited is well positioned to continue on a path to achieving our goal of investment grade status.”
“We appreciate the support from our investor base on this offering, which we believe reflects the quality of Castlelake Aviation Limited’s portfolio and the market’s confidence in the outlook for our business,” Kelleher added.
CA Ltd.’s portfolio is composed primarily of next generation, narrowbody aircraft on long- term leases to leading international airlines. CA Ltd. was established in 2021 to provide bespoke financing solutions to aircraft asset buyers. It directly benefits from the experience and expertise of Castlelake, L.P., a global alternative investment firm that has invested more than $17 billion in aviation opportunities across global economic cycles.
Forward Looking Statements
Certain items in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including, but not necessarily limited to, statements relating to future operations. These statements are based on management’s current expectations and beliefs and are subject to a number of factors that could lead to actual results materially different from those described in the forward- looking statements. Many, but not all of these risks are described in the documents that Castlelake makes available to its investors, which you are encouraged to review. Castlelake can give no assurance that their expectations will be attained. There are important factors that could cause actual results, level of activity, performance or achievements to differ from the results, level of activity, performance or achievements expressed or implied in the forward looking statements. In light of these risks, uncertainties and assumptions, the future performance or events described in the forward-looking statements in this press release may not occur. Accordingly, you should not rely upon forward-looking statements as a prediction of actual results and we do not assume any responsibility for the accuracy or completeness of any of these forward-looking statements. Such forward-looking statements speak only as of the date of this press release. Unless required to do so under applicable law, Castlelake expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Castlelake’s expectations with regard thereto or change in events, conditions or circumstances on which any statement is based. Further to this, past performance is not an indication or guarantee of future results and as such, there can be no guarantee that historical trends will continue.
Contact
Castlelake Media Relations
Molly Blemker
[email protected]
+1 612 851 3083
SOURCE Castlelake
