Lobo Leasing closes a five-year $225 million term loan credit facility
Lobo Leasing Limited has closed a five-year $225 million term loan credit facility.
The facility, which has an accordion feature providing an option to increase the commitment to $325 million, was led by joint lead arrangers: Barclays Bank PLC, Citi and Nomura Corporate Funding Americas, LLC.
The loan credit facility will be used supporting the company’s growth in 2015. With this new facility, the total capital raised by Lobo Leasing this year is $525 million. In February 2014, Lobo announced a US$200 million equity commitment from affiliates of GSO Capital Partners LP (an investment platform of Blackstone) to expand its global helicopter leasing platform.
ALSO READ: Lobo Leasing receives $200 million from GSO Capital
Lobo Leasing has a portfolio of Sikorsky (S-92 and S-76), AgustaWestland (AW-139) and Airbus Helicopters (AS332 Super Puma) rotorcraft.
Bill Wolf, chief executive officer, Lobo Leasing congratulated his team on closing on a deal that “will significantly improve the flexibility we can offer our customers, which has always been the cornerstone of our unique approach to this industry.”
Wesley Kern, chief financial officer, Lobo Leasing is “very pleased to have the support of Barclays, Citi and Nomura in our inaugural facility.”
Kern sees the facility as “critical to our long-term success in the global helicopter leasing market” and considers the closing to be “the culmination of a very successful year for Lobo Leasing during which we have solidified the capital base underpinning our leasing platform.”
