Aircastle obtains $120 million thee-year senior unsecured term loan

By Tali Rackner

Norfolk, Va., April 11 – Aircastle Ltd. completed a $120 million senior unsecured term loan with a group of seven Japanese financial institutions led by Development Bank of Japan as transaction arranger, according to a Monday press release.

The loan has a three-year term, and it will provide working capital for general corporate purposes, including aircraft acquisitions.

"This financing is another example of Aircastle's success in building on our strategic relationship with Marubeni Corporation, broadening and diversifying our funding sources under favorable terms,” chief financial officer Mike Inglese said in the release.

“We welcome the expansion of our global bank group and look forward to building long-term relationships with these world-class financial institutions."

Aircastle acquires, leases and sells commercial jet aircraft to airlines.

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