NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Wings Capital Partners LLC (“Wings”) announced the closing of an unsecured corporate revolving credit facility provided by City National Bank.
In addition, Wings recently completed the refinancing of four aircraft in a $76m secured loan facility. The term facility was due to mature early next year and Wings proactively refinanced the vehicle using its existing warehouse loan facility.
“We are very pleased with the closing of both transactions. Our first unsecured revolving credit facility provides operational flexibility to efficiently finance our day-to-day business. In addition, the refinancing shows our ability to continue to execute in these challenging markets and improves our balance sheet by eliminating our only near-term debt maturity,” said Jakob Gallagher, Senior Vice President – Treasurer & Head of Capital Markets. “Wings appreciates the continued support from our financing partners, which allows us to efficiently execute on our business plan and navigate the evolving markets.”
About Wings Capital Partners
Wings Capital Partners LLC (Wings) is a private, full-service aircraft leasing platform primarily investing in single-aisle, in-production commercial jet aircraft on lease to airlines around the world. Led by best-in-class management team with significant aviation leasing experience and long-standing airline, lessor, banking, investor, and legal relationships.
Wings is owned by active investors, Corrum Capital Management, Sightway Capital, a Two Sigma company, and the Wings Executive Team. www.wingscap.com