2023
Aircastle Signs a Contract for the Increase and Extension of a Revolving Credit Facility with Mizuho Marubeni Leasing Corporation
Jan. 31, 2023
Marubeni Corporation
Marubeni Corporation (hereinafter, “Marubeni”) hereby announces that its affiliate aircraft leasing company, Aircastle Limited (hereinafter, “Aircastle”), signed a contract for the increase of an existing senior unsecured revolving credit facility from USD 100 million to USD 200 million and an extension to January 2025 with Mizuho Marubeni Leasing Corporation.
This facility supplements Aircastle’s liquidity position, and its increase and extension will be carried out in consideration of the expansion of aircraft leasing demand and as a business growth initiative by both of Aircastle’s shareholders, Marubeni and Mizuho Leasing Company, Limited. Aircastle will use this facility for general corporate purposes, including aircraft acquisition for business growth.
Since its additional investment in Aircastle in March 2020, Marubeni has provided continuous support for Aircastle’s business growth, including the deployment of Marubeni employees to the Board of Directors and other managerial positions at Aircastle. Marubeni, together with Mizuho Leasing Company, Limited, will seek to expand and evolve its business portfolio in this area and will try to provide solutions for the continuous long-term demand for air transportation, which is essential for global economic growth in the future.
Overview of Aircastle
Company Name: | Aircastle Limited |
Headquarters: | Connecticut, US |
Founded: | 2004 |
CEO: | Michael J. Inglese |
Shareholders: | Marubeni Corporation: 75%; Mizuho Leasing Company, Limited: 25% |
Business: | Aircraft Operating Leasing |
Overview of Mizuho Marubeni Leasing
Company Name: | Mizuho Marubeni Leasing Corporation |
Headquarters: | Tokyo, Japan |
Founded: | 1993 |
CEO: | Nobuhiro Yabe |
Shareholders: | Marubeni Corporation: 50%; Mizuho Leasing Company, Limited: 50% |
Business: | Business: General leasing and related businesses |