Aircastle gets $786.1 million term loan

By Sara Rosenberg

New York, May 2 - Aircastle Ltd. closed on a new $786.1 million seven-year term loan on a portfolio of 28 aircraft, according to a news release.

Calyon acted as bookrunner on the deal and joint lead arranger. Other joint lead arrangers included HSH Nordbank KfW Ipex-Bank GmbH and DVB Bank.

Pricing on the term loan is Libor plus 175 basis points.

Proceeds will be used to repay related outstanding amounts for the aircraft under Aircastle's existing credit facilities.

Aircastle is a Stamford, Conn., acquirer and leaser of high-utility commercial jet aircraft to airlines.

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