ASL Aviation secures $316M refinancing to drive global growth

ASL Aviation Holdings DAC has completed a refinancing agreement of its credit facility, supported by Goldman Sachs as the sole structuring and placement agent. The deal includes a refinanced term facility worth $316 million along with an additional revolving credit facility (RCF), giving the company greater financial flexibility to support growth and strategic development.

The refinancing underlines the confidence of the banking markets in ASL’s long-term strategy. It builds on the company’s financial record that began with an initial facility of $125 million in April 2021, which was increased to $200 million in July 2022 and followed by a $155 million agreement in April 2023.

ASL described the latest refinancing as a major step in its capital strategy. It said the deal reflects its commitment to operational excellence, fleet expansion and environmental sustainability.

The agreement also strengthens the company’s banking syndicate by adding more financial partners. This broader base is expected to provide stronger flexibility and prepare ASL for future opportunities in the changing aviation sector.

Mark O’Kelly, Chief Financial Officer of ASL Aviation Holdings, welcomed the development. “We are delighted to announce the successful refinancing and enhancement of our credit facility,” he said. “The belief and strong support we continue to receive from the banking markets is encouraging. It reflects the trust in ASL’s growth strategy and our role as a global leader in aviation. This financing will enable us to further develop our fleet, serve our customers more efficiently and continue advancing toward our goal of reducing our carbon emission footprint.”