Jackson Square Aviation, LLC (“JSA”) is pleased to announce that it has closed a $400 million secured credit facility, which provides the company with committed long-term debt capacity. JSA is one of the world’s most active commercial aircraft lessors, and this facility provides the company with a key financing source to acquire modern, fuel-efficient aircraft for lease to its airline customers.
The facility provides JSA with availability to draw down through mid-2012, with a term-out feature that extends to late 2018. Approximately half of the facility will be used to finance aircraft which are currently owned by JSA or under firm commitment for JSA to purchase, with the additional capacity available for next-generation Airbus and Boeing narrow body aircraft.
The facility is underwritten by four of the world’s leading commercial aviation banks, all of which have substantial expertise in aircraft finance and have financed JSA’s management team in the past. DVB Bank SE serves as the facility’s agent, and each of Credit Agricole CIB, BNP Paribas and KfW IPEX-Bank GmbH have provided substantial commitments to the facility as joint arrangers and underwriters.
“This facility enables JSA to diversify its funding sources and provides committed capital for additional growth,” said Scott Weiss, Jackson Square’s COO and Executive Vice President of Capital Markets. “Having this international syndicate is an excellent validation of JSA’s business model. We are actively growing and having this long-term solution to finance new deliveries is a major competitive advantage for us and for our customers. It’s another big step forward for us after a very active 2010.”
Jackson Square Aviation is a full-service aircraft leasing company based in San Francisco with offices in Seattle, London, Miami, and Buenos Aires, with an Asian office opening in 2011. The management team, which had previously worked together at Pegasus Aviation and Sky Holding, has over 100 years of combined industry experience. Led by the seasoned aircraft leasing trio of Richard Wiley, Toby Bright and Scott Weiss, the team has collectively acquired over $10 billion of aircraft, has purchased and/or remarketed over 400 aircraft, and has developed relationships with over 30 commercial lenders and investment banks across Europe, Asia and North America. JSA currently has over $1.5 billion in aircraft owned or under firm commitment to purchase through 2012, and is actively building its fleet via sale/leasebacks and direct purchases of next-generation Airbus and Boeing aircraft.
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