Azorra closes US$988m secured credit facility 

Fort Lauderdale, Florida, USA

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Azorra is today announcing the closing of a US$988 million debt financing facility. The transaction includes a $750 million revolving credit facility (RCF) and a $238 million recourse debt financing. 

Overwhelming investor demand led to a significant oversubscription of the financing, prompting a Day 1 increase of the RCF from $500m to $750m through exercising a built-in accordion. This facility will allow Azorra to continue its growth trajectory, enabling the company to finance the expansion of its aircraft leasing portfolio and acquire additional aircraft. 

John Evans, CEO of Azorra, says: “We are thrilled with the strong investor support for this financing. This achievement underscores the confidence in our business model and our commitment to delivering exceptional value to our customers.” 

Claudia Ziemer, SVP Finance, Azorra, adds: “Securing this financing is a pivotal moment for Azorra. It significantly strengthens our financial position and provides us with the flexibility to capitalize on growth opportunities in the dynamic aviation industry.” 

Citi served as Global Coordinator for the financing, and BNP Paribas, Fifth Third, Natixis and Société Générale acted as Joint Lead Arrangers. Airbus Bank, Bayern LB, Bank of America, Deutsche Bank, MUFG, PNC and RBC also participated as co-arrangers.  

The financing marks the establishment of new banking partnerships with Airbus Bank, Bank of America, PNC, RBC and Société Générale. 

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ABOUT AZORRA

Azorra is a relationship-driven aircraft lessor that provides leasing, financing, fleet transition and asset management solutions to aircraft investors, financiers and airline operators worldwide. Azorra’s multi-cultural team reflects the global markets that we serve and includes core competencies in aviation law, aircraft finance, maintenance, marketing, sales, trading and leasing.     

Our team is led by seasoned veterans having a shared history of success and is complemented with young professionals who bring fresh perspective, ideas and enthusiasm. Azorra currently owns and manages a fleet of more than 100 aircraft on lease to 38 operators in 31 countries around the world, with total commitments of more than 160 aircraft including orders for new Airbus A220-100/300 aircraft and Embraer E190/195-E2 aircraft. The company is headquartered in Fort Lauderdale, Florida, and has an office in Dublin, Ireland.    

For additional information, please visit us at www.azorra.com or on LinkedIn.