FLY Leasing ups aircraft acquisition loans to $450 million, cuts rate

By Susanna Moon

Chicago, July 8 - FLY Leasing Ltd. said it boosted the size of its aircraft acquisition facility to $450 million from $250 million and added two lenders, EverBank Commercial Finance and Scotiabank.

The facility was extended for two years, followed by a three-year term out period to July 2018, according to a company press release.

The margin on loans was reduced by 50 basis points to 3.25%.

"We are delighted to have upsized, extended and repriced our aircraft acquisition facility," Colm Barrington, chief executive officer of FLY Leasing, said in the press release.

"FLY will continue to focus on growing our fleet through acquisitions of the most modern and popular aircraft that are in high demand with airlines around the world."

FLY is an aircraft lessor with corporate offices in Dublin, Ireland and San Francisco.

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