GA Telesis Increases Credit Facility to $150 Million
October 15, 2013 Fort Lauderdale, FL – GA Telesis, LLC, today announced that it has increased its syndicated credit facility by $50 million to $150 million. Led by PNC Bank, N.A., the facility has two remaining years of a three year term and has participation from a total of six global and regional banks. It provides the company with additional financial resources at cost efficient and flexible terms to support the company’s growth.
Abdol Moabery, President and CEO of GA Telesis, LLC said: “The PNC team did a great job executing the increase in which all members of the syndication increased their pro-rated participation. We are excited about our ability to continue to expand upon our business plan and continue to work with a highly supportive group of lenders.”
The larger credit facility has the same favorable terms and conditions. This larger facility with a group of global partners reflects both the international profile of GA Telesis and the confidence that the financial market has in the company’s plans for growth.
“This increased credit facility allows GA Telesis to continue to accelerate organic growth, acquire additional aircraft and engine assets, purchase aerospace related businesses as well as provide related financing solutions to airlines, aircraft and engine manufacturers, MROs and leasing companies” Moabery added.
About GA Telesis
GA Telesis is a worldwide leader in providing support services to the commercial aerospace industry. With financial, supply-chain, component and heavy jet engine MRO businesses spanning the globe, GA Telesis is recognized as a pioneering leader in solutions-based services in its sector. As an innovator, GA Telesis is one of the few independent companies in the world capable of providing a total-support-solution to their customers from their front door with several fully integrated operations throughout North America, Europe and Asia. GA Telesis also provides leasing and asset management services and maintains an extensive portfolio of leased assets exceeding $1 billion in value.
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