NAC announced the upsizing of its warehouse facility to $750 million. The five-year senior secured warehouse revolving credit facility originally closed in June 2022, with an initial committed amount of $400 million from Deutsche Bank, Royal Bank of Canada and Citi. The upsizing brings new banking partners into the credit facility, including Wells Fargo, Fifth Third, and Mizuho. Clifford Chance LLP acted as legal advisor to NAC with Milbank LLP acting as legal advisor to the lenders.
Gareth Halpin, EVP & Group Treasurer, said, “We are grateful for the continued support from our existing lenders and welcome three leading aviation financing institutions to the NAC warehouse group. This facility will provide the capital and flexibility required to support NAC’s aim to remain a global leader in regional aircraft leasing and expand into larger narrowbody aircraft leveraging its world class asset management platform.”
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