Aircastle completes loan agreement in Japan

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Aircastle has completed a $120 million senior unsecured term loan with a group of seven Japanese financial institutions led by Development Bank of Japan, which served both as the transaction arranger and lender.

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

Aircastle’s chief financial officer, Mike Inglese says: “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.

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

As of 31 December 2015, Aircastle’s portfolio consisted of 162 aircraft on lease with 53 customers located in 34 countries, including 11 freighters.