AeroCentury purchases three E175s, extends RCF

AeroCentury purchases three E175s, extends RCF

Californian lessor and financier AeroCentury has purchased three Embraer 175s and extended its existing credit facility to $170 million.

The three aircraft are currently on lease to an unnamed US regional carrier.

Michael G. Magnusson, CEO, said: “This recent acquisition, combined with our purchase of Embraer 145 aircraft earlier this year, brings the total number of Embraer aircraft in our portfolio to six, further diversifying our portfolio into this workhorse regional aircraft brand.

“With over 1,100 Embraer aircraft operating throughout the world, the demand for, and versatility of, Embraer regional aircraft is indisputable.”

AeroCentuy’s increased its existing revolving credit facility from $150 million to $170 million. MUFG Union Bank is the lead participant and agent bank have also added fifth participant to the deal.

Toni Perazzo, Chief Financial Officer of AeroCentury  said: “We are very pleased with the vote of confidence from our credit facility lenders that this increase represents.”

Alex Baldwin
By Alex Baldwin July 27, 2017 10:54