Milestone Aviation Group said that it reached an agreement with three banks for US $300 million in loan facility. The money from the new loan will be utilized to buy new Eurocopter EC225, AW139 aircraft, Sikorsky S-92, and AgustaWestland AW189.
A company statement revealed that the whole deal is expected to cost the company around US $400 million.
"We are delighted to have closed this innovative, single lessee transaction with Lloyds, Barclays and Lombard," Richard Santulli, Milestone's CEO said, referring to the loan facility.
Milestone is among the largest aircraft leasing companies in the world. Since it was established in August 2010, the company already has over 100 helicopters with an estimated worth of US $1.5 billion. The company has also entered into agreements with businesses in more than 20 countries.
To date, Milestone has at least US $500 million in equity capital. This has allowed the company to raise about US $1.8 billion in credit commitments from financing institutions in Europe, North America and Asia.
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