Fort Lauderdale, Florida, United States
GA Telesis, LLC ("GAT"), announced the closing of a $270 million warehouse credit facility ("the Facility") arranged and underwritten by Merrill Lynch Credit Products, LLC; HSH Nordbank, acting through its New York office; and DVB Bank AG.
The facility will be used to expand GA Telesis' existing commercial jet engine and aircraft leasing business and is in addition to the ABL facility the company obtained with Wachovia Bank N.A. in September of 2007.
"We are pleased to have such a top-tier group of lending partners working with us," stated Abdol Moabery, President and CEO of GA Telesis. "The Facility will allow us to significantly grow our engine and aircraft leasing business which will benefit our over all growth strategy," he added.
GA Telesis is a global leader in the commercial aerospace support industry. With sales, distribution and MRO facilities throughout the United States, Canada, Great Britain and Singapore, GA Telesis specializes in commercial aircraft and jet engine leasing as well as maintaining one of the world's largest replacement aerospace component inventory networks. GA Telesis serves the world's largest airlines and maintenance organizations support for Airbus, Boeing, Bombardier, Douglas and Embraer aircraft and components as well as CFM International, General Electric, Honeywell, International Aero Engine, Pratt & Whitney and Rolls-Royce turbine jet engines and replacement components.
Source: Business Wire (Business Wire India)