AWAS closes $242 million facility

AWAS closes $242 million facility

Dublin-based lessor AWAS has closed a $242 million senior secured portfolio facility.

The facility was arranged by Credit Agricole. Proceeds will be used as a refinancing solution for AWAS’ fleet and new aircraft deliveries.

AWAS CFO Simon Glass said: “AWAS is delighted to close this Portfolio Facility, our second such facility with CACIB, further strengthening this key banking relationship. The Facility provides the ideal, short term, low cost, flexible solution to address AWAS’ near-term financing needs.”

The facility will be backed by 11 narrow body aircraft and was initially closed with the backing of four. The seven remaining aircraft will be introduced to the facility on a rolling basis over the coming months.

Alex Baldwin
By Alex Baldwin August 15, 2017 10:38