Aircastle Closes on Revolving Credit Facilities Agreements involving Mizuho Bank and Mizuho Marubeni Leasing

Feb. 16, 2024
Marubeni Corporation

Marubeni has announced that its affiliate aircraft leasing company, Aircastle Limited (hereinafter, “Aircastle”), jointly owned with Mizuho Leasing Company Limited (hereinafter, “Mizuho Leasing”), has concluded a series of revolving credit facility renewal agreements with a total facility scale equivalent to US$2.1 billion. Rolled over facilities for which contracts have been concluded include a US$300 million agreement with Mizuho Bank and a US$200 million agreement with Mizuho Marubeni Leasing Company, a joint venture of Marubeni and Mizuho Leasing (hereinafter, the “Facilities”). The Facilities will contribute towards enhanced financial stability and creditability owing to the three-year extensions of tenor.

In addition to consolidating Aircastle’s financial standing, the Facilities agreements have been undertaken as a business growth initiative on the part of both of Aircastle’s shareholding companies, following the subscription to additional common shares of Aircastle by Marubeni and Mizuho Leasing in July 2023. These rollovers strengthen Aircastle’s investment grade position from rating agencies as well as acquisition power for quality aircraft.

In 2023, global demand for air travel recovered to levels comparable to those in the pre-COVID-19 era of 2019, with further growth supported by the increase in air travel demand anticipated in the aircraft leasing sector. Marubeni will continue to seek to enhance the operating base of Aircastle, a core business in Marubeni’s finance and leasing operations together with Mizuho Group companies.

Overview of Aircastle

Company Name: Aircastle Limited
Head office: Connecticut, U.S.
Established: 2004
Representative: Michael J. Inglese
Shareholders: Marubeni Corporation: 75%; Mizuho Leasing Company, Limited: 25%
Main business: Aircraft Operating Leasing

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Marubeni and Mizuho Leasing to Provide Equity Support to Aircastle Limited

Mar. 16, 2023
Aircastle Closes on a Revolving Credit Facility with Mizuho Bank

Jan. 31, 2023
Aircastle Signs a Contract for the Increase and Extension of a Revolving Credit Facility with Mizuho Marubeni Leasing Corporation