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Milestone Aviation Closes $200MM Unsecured Revolving Credit Line

January 10, 2014, 06:10 AM
Filed Under: Aircraft

Milestone Aviation Group, the global leader in helicopter leasing, announced today that it has closed on an unsecured US$ 200 million revolving credit line. The new facility increases Milestone’s unsecured borrowing capacity to US$ 450 million and revolving borrowing capacity to US$ 800 million. Today’s announcement follows on the heels of the company’s January 7, 2014 announcement that it had successfully completed the private placement of US$ 575 million of senior secured notes.

“This revolver increases Milestone’s liquidity and provides greater financial flexibility to exploit the many opportunities we see to grow our business and serve our customers,” said Milestone’s Chairman and CEO Richard Santulli. “We believe that receiving this level of support in an unsecured facility from such an impressive group of financing partners reflects confidence in Milestone and our business model. We will use these additional resources to respond quickly to the needs of our operating partners around the world.”

A global mix of seven lenders participated in the facility. SunTrust Robinson Humphrey, Inc. served as Joint Lead Arranger and Sole Bookrunner and JPMorgan Securities LLC and Deutsche Bank Securities Inc. served as Joint Lead Arrangers. The other participating lenders include: Jefferies Finance LLC; Nomura Corporate Funding Americas, LLC; Bank of America, N.A.; and The Huntington National Bank.

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