GA Telesis closes $225 million credit facility

GA Telesis closes $225 million credit facility

GA Telesis, a lessor and MRO provider based in Leatherhead, has closed a new $225 million asset-based lending (ABL) credit facility with a five year term.

The ABL facility is a financing of a $150 million set to expire in 2018. The extension offers a higher loan amount, longer maturity and improved pricing and terms.

Initially, GA Telesis was seeking a facility worth $200 million but upsized due to “overwhelming interest” resulting in over-subscription.

Alvin Khoo, CFO, GA Telesis said: “We are thrilled with the outcome of this syndication process,” said “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.”

The loan will be used for general corporate purposes, acquisitions and funding growth. HSBC Securities USA and Fifth Third Bank both acted as joint lead arrangers on the closing.

Abdol Moabery, GA Telesis president and CEO said: “HSBC and Fifth Third provided critical leadership advocating for our strong financial performance and high credit quality.

“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.”

Alex Baldwin
By Alex Baldwin June 19, 2017 13:45