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Castlelake launches $635 million term loan B at SOFR plus 300 bps
By Sara Rosenberg
New York, Feb. 6 – Castlelake Aviation held a lender call at 2 p.m. ET on Monday to launch a $635 million incremental first-lien term loan B due October 2027 (BB/BB+) that is talked at SOFR plus 300 basis points with a 0.5% floor and an original issue discount of 98.5, according to a market source.
The term loan has 101 soft call protection for six months and amortization of 1% per annum, the source said.
Goldman Sachs Bank USA is the left lead arranger on the deal.
Commitments are due on Feb. 14, the source added.
Proceeds will be used to refinance existing debt, including to repay revolving credit facility borrowings and the AirAsia term loan facility, and for general corporate purposes.
Castlelake Aviation is a Dublin, Ireland-based provider of aircraft financing, leasing and servicing solutions.
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