NEWPORT BEACH, Calif. (June 23, 2020) – Aviation Capital Group LLC (ACG), a leading aircraft asset manager, announced today the closing of a $600 million unsecured revolving line of credit with its 100% owner Tokyo Century Corporation. The facility has an initial term of 3 years and will automatically extend for additional one-year periods with mutual consent.
“This intercompany line of credit is an example of the tremendous support Tokyo Century provides to ACG and clearly demonstrates their ongoing commitment to our continued success,” said Khanh T. Tran, President and Chief Executive Officer of ACG.
“Maintaining our strong investment grade rating profile is very important to both ACG and Tokyo Century. This multi-year $600 million line of liquidity provides an additional layer of capital support which benefits the company and our investors,” said Madhu Vijay, Executive Vice President and Chief Financial Officer of ACG.
About Aviation Capital Group
Aviation Capital Group was founded in 1989 and is one of the world’s premier full-service aircraft asset managers with approximately 500 owned, managed and committed aircraft as of March 31, 2020, which are leased to approximately 90 airlines in approximately 45 countries. ACG is a wholly owned subsidiary of Tokyo Century Corporation.