FLY Leasing Extends $600 Million Credit Facility Through 2018
DUBLIN, Ireland, Feb. 7, 2012 /PRNewswire/ — FLY Leasing Limited (NYSE: FLY) (“FLY”), a leading global lessor of modern commercial jet aircraft, today announced that it has signed an extension of its credit facility with Norddeutsche Landesbank Gironzentrale (Nord LB). The facility was set to mature in November 2012 and has been extended until 2018. As of December 31, 2011 the outstanding balance of the facility was $598 million.
“The extension of our second-largest financing is a positive achievement that underscores both the quality of FLY’s fleet and the strength of our banking relationships,” said Colm Barrington, CEO of FLY Leasing. “Nord LB has a leading franchise in aircraft finance and we thank them for their continued support. The careful management of the company’s refinancing risks is a core element of our commitment to enhance and grow shareholder value over time.”
FLY has 109 aircraft on lease to 53 airlines around the world.
FLY acquires and leases modern, high-demand and fuel-efficient commercial jet aircraft under multi-year operating lease contracts to a diverse group of airlines throughout the world. FLY is managed and serviced by BBAM LP, one of the world’s leading aircraft lease managers with more than 20 years of experience. For more information about FLY, please visit our website at www.flyleasing.com.
FLY Leasing Limited
SOURCE FLY Leasing Limited