Lobo Leasing Limited (“Lobo Leasing”) has closed a five-year US$225 million term loan credit facility. The facility, which has an accordion feature providing an option to upsize the commitment to US$325 million, was led by joint lead arrangers: Barclays Bank PLC, Citi and Nomura Corporate Funding Americas, LLC.
The credit facility will be used to support the leasing company’s strategic growth in 2015. The addition of the facility brings the total capital raised by Lobo Leasing in 2014 to US$525 million. In February 2014, Lobo announced a US$200 million equity commitment from affiliates of GSO Capital Partners LP (an investment platform of Blackstone. – NYSE:BX) to expand its global helicopter leasing platform.
During its first full year of commercial operations, Lobo Leasing has acquired a balanced portfolio of Sikorsky (S-92 and S-76), AgustaWestland (AW-139) and Eurocopter (AS332 Super Puma) helicopters and is further positioned to take advantage of the exciting opportunities it has identified in the expanding helicopter leasing market.
Bill Wolf, Lobo Leasing’s Chief Executive Officer congratulated his team on closing on a deal that “will significantly improve the flexibility we can offer our customers, which has always been the cornerstone of our unique approach to this industry.”
Wesley Kern, Lobo Leasing’s Chief Financial Officer, is “very pleased to have the support of Barclays, Citi and Nomura in our inaugural facility.” Mr. Kern sees the facility as “critical to our long-term success in the global helicopter leasing market” and considers the closing to be “the culmination of a very successful year for Lobo Leasing during which we have solidified the capital base underpinning our leasing platform.”
About Lobo Leasing
Lobo Leasing is a Dublin, Ireland based helicopter leasing company serving the global helicopter industry. Lobo Leasing is managed by a seasoned team of helicopter operations and finance professionals with extensive experience in the commercial helicopter industry. Lobo Leasing is focused on assisting helicopter operators throughout the world on acquiring aircraft through innovative leasing arrangements. The firm has offices in Dublin, Kuala Lumpur, London and San Francisco. Additional information can be found at www.loboleasing.com.
Blackstone is one of the world’s leading investment and advisory firms. It seeks to create positive economic impact and long-term value for its investors, the companies it invests in, the companies it advises and the broader global economy. Blackstone does this through the commitment of its extraordinary people and flexible capital. Its asset management businesses include investment vehicles focused on private equity, real estate, hedge fund solutions, non-investment grade credit, secondary funds, and multi-asset class exposures falling outside of other funds’ mandates. Blackstone also provides various financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory and fund placement services. Further information is available at www.blackstone.com
About GSO Capital
GSO Capital Partners LP is a global investment platform of Blackstone. GSO, together with its affiliates, has over $70 billion of assets under management (as of September 30, 2014) and is one of the largest credit-oriented alternative managers in the world and a major participant in the leveraged finance marketplace.