GA Telesis Closes New $225 Million Syndicated ABL Credit Facility with Oversubscription and Tighter Pricing
Leading aviation company GA Telesis, LLC (or the “Company”) announced the closing of a new five year, $225 million ABL credit facility led by HSBC Securities USA and Fifth Third Bank as Joint Lead Arrangers. The company originally sought a new $200 million facility. Due to overwhelming interest from existing and new banks, however, the company upsized the facility with better terms than its previous credit facility.
The facility comprises seven global, super-regional, and regional banks with HSBC Bank USA as Administrative Agent. The facility is a refinancing of an existing $150 million ABL facility led by HSBC which was set to expire in 2018. The new facility has a higher loan amount, longer maturity, and pricing and terms consistent with or better than the current facility with the support of a larger and more diverse bank group. The proceeds from the facility will be used for general corporate purposes, acquisitions, and funding of future growth. The five year term and competitive borrowing costs will provide for financial stability while also allowing the company to make longer term acquisition decisions.
“We are thrilled with the outcome of this syndication process,” said Alvin Khoo, Chief Financial Officer. “We were overwhelmed by the strong interest from our existing lenders to upsize their positions and the number of new banks that wanted to initiate a banking relationship with GA Telesis. Additionally, this facility, along with our non-recourse facilities and managed capital pools, provide significant financial flexibility for the Company to execute upon its business plan.”
“HSBC and Fifth Third provided critical leadership advocating for our strong financial performance and high credit quality,” said Abdol Moabery, GA Telesis President and Chief Executive Officer. “Ultimately, the company’s performance and track record for delivering results drove us to significant oversubscription and better terms that position us extremely well for the future.”
About GA Telesis:
GA Telesis is the global provider of integrated aviation solutions serving the aviation and aerospace industries. The Company helps its customers achieve higher levels of performance by creating custom-tailored, multi-faceted solutions integrating its financial asset structuring expertise with component supply chain solutions, jet engine MRO, aircraft systems MRO, and aerostructures MRO services. For more information, please visit our website at www.gatelesis.com .
Alvin Khoo, 954-676-3124
Information om Business Wire
101 California Street, 20th Floor
CA 94111 San Francisco
Følg pressemeddelelser fra Business Wire
Skrive dig op her og du vil løbende modtage pressemeddelelser på mail. Indtast din mail, klik på abonner og følg instruktionerne i den udsendte mail.
Flere pressemeddelelser fra Business Wire
TAN-DELTA23.11.2017 14:40 | pressemeddelelse
Tan Delta: New Oil Condition Monitoring Kit for Gas Engine Operators Reduces Daily Operating Costs, Improves Equipment Efficiency and Extends Equipment Life.
INSTITUT-CURIE23.11.2017 14:02 | pressemeddelelse
Making Institut Curie a Reference for Technology Transfer in Oncology
WEALTH-DYNAMIX23.11.2017 09:02 | pressemeddelelse
Wealth Dynamix (WDX) Ranks No.18 in the 2017 Tech Track 100 by the Sunday Times and 19th Fastest Growing Technology Company in the UK in the 2017 Deloitte Technology Fast 50
MOBIDIAG-LTD23.11.2017 08:02 | pressemeddelelse
Mobidiag Signs Agreement with Interlux for the Distribution of Amplidiag® Diagnostic Tests and Instruments in Estonia
OCP-S.A.22.11.2017 18:01 | pressemeddelelse
OCP Announces Date of 2017 Third Quarter and Nine Month Results
TATA-MOTORS22.11.2017 15:48 | pressemeddelelse
Tata Motors Charts Out 'Connecting Aspirations' As Its New Corporate Brand Identity in Global Markets
I vores nyhedsrum kan du læse alle vores pressemeddelelser, tilgå materiale i form af billeder og dokumenter, og finde vores kontaktoplysninger.Besøg vores nyhedsrum