LCI agrees two multi-year debt facilities
An AgustaWestland AW139 flying.
LCI has finalised two long-term debt facilities. Both lines will support $200m of incremental fleet growth in Australia.
The aircraft have been financed under a tripartite, 10-year arrangement with Westpac Banking Corporation acting as sole lender, security trustee and agent.
The deal will support LCI’s recent agreement to lease four new AgustaWestland AW139 helicopters to Westpac Rescue Helicopter Service.
The helicopters will be delivered in the second half of 2016, following fit-out for emergency medical service (EMS) operations.
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LCI also recently concluded an agreement to lease six new AgustaWestland AW139 aircraft to Australian Helicopters Pty Ltd. The aircraft will be progressively delivered to the operator through 2015 and 2016, following modification for EMS operations.
“We are delighted that Westpac and National Australia Bank have underpinned our commitment to provide new, state-of-the-art helicopters to the emergency medical service sector in Australia.”
Jaspal Jandu, chief financial officer of LCI said: “We are delighted that Westpac and National Australia Bank have underpinned our commitment to provide new, state-of-the-art helicopters to the emergency medical service sector in Australia.”
“These long-term, multi-currency financings cover pre-delivery payments, fit-out costs and 10-year term loans, so are both comprehensive and bespoke. Both banks have handled them superbly and we look forward to working together with them in the future,” added Jandu.
“We’re delighted to have helped finance the renewal of Air Ambulance Victoria’s fleet, enabling them to improve their operational efficiency with these new, state-of-the-art helicopters.”
Greg Hampton, global head, Asset Finance & Leasing at National Australia Bank said: “We’re delighted to have helped finance the renewal of Air Ambulance Victoria’s fleet, enabling them to improve their operational efficiency with these new, state-of-the-art helicopters. We’re also proud to have played a key role in developing this innovative financing solution for LCI which supports their significant growth ambitions in the Asia Pacific region.”
LCI Helicopters’ total fleet is made up of 90 delivered and ordered helicopters, including the market-leading AgustaWestland AW139, AW169 and AW189 helicopters, and next generation Airbus Helicopters H175 and H225s. LCI is the launch customer for both the AW169 and the H225e.
