StandardAero to launch roughly $1 billion credit facility on Tuesday

By Sara Rosenberg

New York, June 5 – StandardAero is set to hold a bank meeting on Tuesday to launch a $1,075,000,000 credit facility, according to a market source.

Jefferies Finance LLC, KKR Capital Markets and MCS Capital Markets are the leads on the deal.

The facility consists of a $150 million ABL revolver and a $925 million first-lien term loan, the source said.

Proceeds will be used to help fund the buyout of the company by Veritas Capital from Dubai Aerospace Enterprise Ltd.

Other funds for the transaction will come from $485 million of notes, the source added.

StandardAero is a Scottsdale, Ariz.-based provider of aircraft engine maintenance, repair and overhaul services.

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