FLY Leasing closes $385 million aircraft acquisition facility

DUBLIN, Ireland – FLY Leasing Limited today announced that it has closed a $385 million blind pool aircraft acquisition facility.

DUBLIN, Ireland – FLY Leasing Limited today announced that it has closed a $385 million blind pool aircraft acquisition facility. The facility has a three-year revolving period followed by a three-year term and will bear interest at LIBOR plus 2.00% during the revolving period. The lenders include Commonwealth Bank of Australia New York Branch, MUFGโ€™s banking arm Bank of Tokyo-Mitsubishi UFJ Ltd., New York Life Insurance Company and National Australia Bank. Commonwealth Bank of Australia New York Branch will serve as the Administrative Agent for the facility.

โ€œThe completion of this facility provides FLY with the resources to continue to grow its fleet with young, desirable aircraft. Our focus remains on the most popular narrow-body aircraft with the largest user bases,โ€ said Colm Barrington, CEO of FLY. โ€œBBAM sourced and structured the facility, saving FLY significant fees and demonstrating BBAMโ€™s deep value. The syndicate includes two new lending relationships for FLY as we continue to diversify our financing sources.โ€

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Linda Hohnholz

Editor in chief for eTurboNews based in the eTN HQ.

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