FLY Leasing closes new $332 million eight-year secured debt facility

By Sarah Lizee

Olympia, Wash., Dec. 11 – FLY Leasing Ltd. closed a new $332 million eight-year secured debt facility, according to a press release.

The facility will bear interest at Libor plus 165 basis points.

The lender syndicate is comprised of nine institutions, including five first-time lenders to FLY.

“This term loan facility has one of the most competitive borrowing costs in the industry, demonstrating that FLY continues to be an attractive counterparty for a broad group of lenders,” Colm Barrington, chief executive officer, said in the release.

“The eight-year term is in line with our philosophy of matching our financing terms with our lease term profile.”

FLY is a Dublin-based aircraft lessor.

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