Phoenix Aviation Capital, a full-service aircraft lessor managed by AIP Capital and a portfolio company of funds advised or controlled by affiliates of BC Partners Advisors L.P. announced the closing of a $300 million senior secured credit facility.

Royal Bank of Canada ("RBC") acted as Structured Agent. RBC, Citibank and Morgan Stanley acted as Joint Lead Arrangers. The facility will be used to refinance seven assets currently owned by Phoenix and provide future funding for new asset acquisitions.

"This facility represents another key milestone in Phoenix's expansion of its lender group and availability of debt capital," said Jared Ailstock, Managing Partner at AIP. "We are grateful for the support from the bank group as we continue to execute on Phoenix's growth strategy."

"Closing this facility through a combination of new lenders and existing banks demonstrates the support Phoenix and AIP have in the aviation bank market," said Patrick Schafer, Managing Director at BC Partners and board member of Phoenix. "The facility will provide Phoenix with additional capacity and flexibility to support the Company's airline customers."

Vedder Price served as transaction counsel and PwC acted as tax advisor to Phoenix and AIP. McCann Fitzgerald also acted in capacity as Irish counsel to Phoenix and AIP. Clifford Chance served as transaction counsel to the lenders.