Phoenix Aviation Capital Secures $300 Million Credit Facility
Phoenix Aviation Capital Secures Major Financial Support
In a significant move to bolster its growth, Phoenix Aviation Capital has successfully closed a senior secured credit facility amounting to $300 million. This milestone represents a crucial step in enhancing the company’s lender relationships and expanding its capacity to acquire new assets.
Key Details of the Credit Facility
The renowned Canadian financial institution, Royal Bank of Canada, played a key role as the Structured Agent for this transaction. Other notable participants such as Citibank and Morgan Stanley served as Joint Lead Arrangers. This facility is earmarked for refinancing seven actively managed assets and will also facilitate future acquisitions, providing much-needed capital to support the company’s strategic direction.
Statements from Leadership
Managing Partner Jared Ailstock of AIP highlighted the importance of this facility, stating, "This facility represents another key milestone in Phoenix's expansion of its lender group and availability of debt capital. We are grateful for the support from the bank group as we continue to execute on Phoenix's growth strategy." Meanwhile, Patrick Schafer, Managing Director at BC Partners and a board member of Phoenix, emphasized the confidence that both new and existing lenders have in their aviation bank market strategy.
Growth and Future Prospects
Schafer pointed out that the newly secured facility enhances both capacity and flexibility for Phoenix, allowing the company to better serve airline customers and adapt to changing market conditions.
Corporate Insights
AIP Capital, which manages Phoenix Aviation Capital, stands as a prominent alternative investment manager with a focus on asset-based financing opportunities, particularly within aviation. With a formidable portfolio of approximately $4 billion under management, AIP boasts a team of over 30 seasoned professionals who operate from key locations including Stamford, New York City, Dublin, and Singapore.
Building on its reputation, AIP continues to seek innovative avenues in asset financing, ensuring that its investors are provided with attractive opportunities.
About BC Partners
BC Partners is a distinguished international investment firm specializing in private equity, private debt, and real estate strategies. Since its inception of the BC Partners Credit platform in 2017, the firm has flourished, identifying compelling credit opportunities within various market environments. Their focus on middle-market companies across diverse sectors such as business services and healthcare has positioned them as a trusted resource for flexible financing solutions.
Conclusion
The recent closing of the $300 million credit facility marks a pivotal chapter for Phoenix Aviation Capital as it enhances its ability to execute on growth strategies and better serve its clients. This achievement not only reflects the strength of the company's operations but also demonstrates a growing confidence from the financial market towards the aviation sector.
Frequently Asked Questions
What is the purpose of the $300 million credit facility?
The credit facility aims to refinance existing assets and support future acquisitions for Phoenix Aviation Capital.
Who are the key players involved in this credit facility?
Royal Bank of Canada acted as the Structured Agent, with Citibank and Morgan Stanley as Joint Lead Arrangers.
What does this facility mean for Phoenix's growth?
This facility enhances Phoenix's lender relationships, providing more options for debt capital and supporting their expansion strategy.
Who manages AIP Capital?
AIP Capital is a global alternative investment manager focused on asset-based finance, with a diverse team based in locations like Stamford, Dublin, and Singapore.
What sectors does BC Partners focus on?
BC Partners primarily invests in private equity, private debt, and real estate, with additional focus on credit opportunities across various market segments.
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