Irish aircraft lessor SMBC Aviation Capital announced in June that it has finalised a 5-year global syndicated finance facility. The transaction raised US$1.5 billion (€1.4bn) from 29 financial institutions. SMBC Aviation Capital is our Company of the Month June 2024, in association with KPMG.
Irish aircraft lessor SMBC Aviation Capital announced in June that it has finalised a 5-year global syndicated finance facility.
The transaction raised US$1.5 billion (€1.4bn) from 29 financial institutions, 13 of which are new banking relationships for the company.
This follows a period of profit at SMBC Aviation Capital, which grew 35 per cent to $460 million in 12 months ending March.
Citigroup Global Markets Asia Limited (Citi) acted as Global Co-ordinator, and together with eight banks, including Bank of China Limited, Caixabank S.A., Cathay United Bank, DBS Bank Limited, Emirates NBD Capital Limited, Oversea-Chinese Banking Corporation Limited, Taipei Fubon Commercial Bank Co., Limited and Taishin International Bank Co., Limited acted as Senior Mandated Lead Arrangers and Bookrunners. Australia and New Zealand Banking Group Limited, Singapore Branch acted as Mandated Lead Arranger and Bookrunner.
The senior syndication phase of the transaction included participation from 10 banks, while the general syndication phase of the transaction included participation from a further 19 banks.
The syndicated finance facility comprises a US$375 million term loan and a US$1.125 billion revolving credit facility with a consortium of American, Asian, Australian, European and Middle East banks.
Commenting on the transaction, Aisling Kenny, Chief Financial Officer, SMBC Aviation Capital, said: “This transaction represents a further milestone in our syndicated banking programme and demonstrates our ability to raise large scale, competitively priced capital.
“The deal is global in nature and further increases the diversification of our banking relationships, as we welcomed 13 new banking partners as part of the syndication. The revolving credit facility which forms 75% of this transaction will provide further operational flexibility for the future liquidity needs of SMBC Aviation Capital.”
Business & Finance, Company of the Month
