AviLease Closes $1.5 billion Revolving Credit Facility

AviLease, the aircraft lessor headquartered in Saudi Arabia, announced on Thursday the closing of an unsecured revolving credit facility (RCF) of $1.5 billion, it said in a news release.

 The conventional, three-year facility was significantly oversubscribed, attracting commitments from 20 leading banks across the globe, including eight new banking partners from Europe, Asia and North America, the company said.

 "We are pleased to close this facility, noting the strong international demand,” said AviLease chief executive Edward O’Byrne. “Together with our existing revolver of $750 million, it brings our immediately available committed facilities to $2.25 billion, spanning 25 local and global lenders.

 “This enhanced liquidity positions us to continue our expansion, investing in the latest technology and fuel-efficient aircraft while maintaining the conservative financial policy that underpins our strategy,” O’Byrne said.