ALC Extends Credit Facility To $2.7bn

Aircraft Leasing Corporation (ALC) has confirmed it has amended and extended its four-year revolving credit facility by an additional $350m to $2.7bn.

Aircraft Leasing Corporation (ALC) has confirmed it has amended and extended its four-year revolving credit facility by an additional $350m to $2.7bn.

The extension was agreed on Monday (June 1) by Los Angeles-based ALC and will see the credit facility’s maturity date extended by a year to May 2019.

The lessor, which hasn’t disclosed what the credit extension will be used for, said that so far in 2015 it has grown its total credit facility by $500m across 31 financial institutions.

Last month, ALC confirmed a disappointing Q1 2015 by revealing its net profit for the quarter fell by 68 per cent to $19.3m.

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