AeroCentury Corp. Expands Credit Facility to $170 Million; Purchases Three Embraer 175 Jets
July 26 2017 - 4:20PM
AeroCentury Corp. (NYSE American:ACY), an independent aircraft
leasing company, today announced that the participants in its
credit facility, for which MUFG Union Bank is the lead participant
and agent bank, have added a fifth participant to the lender
syndicate and expanded the total revolving credit facility amount
to $170 million from $150 million. “We are very pleased with the
vote of confidence from our credit facility lenders that this
increase represents,” said Toni Perazzo, Chief Financial
Officer.
The Company also announced that it had completed
the purchase of a package of three Embraer 175 aircraft on lease to
a U.S. regional carrier. Michael G. Magnusson, Chief Executive
Officer, stated, “This recent acquisition, combined with our
purchase of Embraer 145 aircraft earlier this year, brings the
total number of Embraer aircraft in our portfolio to six, further
diversifying our portfolio into this workhorse regional aircraft
brand. With over 1,100 Embraer aircraft operating throughout
the world, the demand for, and versatility of, Embraer regional
aircraft is indisputable.”
AeroCentury is a global aircraft operating
lessor and finance company specializing in leasing regional jet and
turboprop aircraft and related engines. The Company's aircraft and
engines are leased to regional airlines and commercial users
worldwide.
Toni Perazzo
Chief Financial Officer
(650) 340-1888