Aircastle Announces Increase in Bank Revolving Credit Facility to $450 million

STAMFORD, Conn., April 1, 2014 /PRNewswire/ — Aircastle Limited (“Aircastle” or the “Company”) (NYSE: AYR) announced today that it closed a $450 million unsecured revolving credit facility with Citibank, N.A., Goldman Sachs Bank USA, J.P. Morgan Chase Bank N.A. and Royal Bank of Canada, as Joint Lead Arrangers, and Citibank, N.A. as agent. The bank group was expanded to nine institutions and the facility’s term was extended to four years and will expire in March 2018. The facility, which will be used for working capital, including the acquisition of aircraft, was increased to $450 million from $335 million and is currently undrawn.

Mike Inglese, Aircastle’s CFO, stated, “The increase in our undrawn, unsecured revolving credit facility highlights Aircastle’s strong relationship with its bank group. We are also pleased to welcome Deutsche Bank and BNP Paribas to the bank group which now consists of nine world-class institutions. Along with our recent $500 million senior note offering, this expanded revolver further fortifies the Company’s liquidity and capital structure, enhancing our ability to execute our value-oriented investment strategy.”