StandardAero to launch $695 million credit facility on Friday

By Sara Rosenberg

New York, Sept. 25 - StandardAero (DAE Aviation Holdings Inc.) will be holding a bank meeting on Friday to launch a $695 million credit facility, according to a market source.

Barclays is the left lead bank on the deal.

The facility consists of a $175 million ABL revolver and a $520 million secured term loan, the source said.

Proceeds will be used to refinance existing debt and for general corporate purposes.

StandardAero is a Tempe, Ariz.-based company that specializes in engine maintenance, repair and overhaul, and nose-to-tail services, for business and general aviation, air transport and military aircraft.

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