FORT LAUDERDALE, Fla., Feb. 27, 2015 (GLOBE NEWSWIRE) -- via PRWEB - GA Telesis, LLC ("GA Telesis" or the Company) announced today that it has closed on a new syndicated $150,000,000 credit facility. Led by HSBC Bank USA, N.A., and with an increased commitment from 4 global and regional banks involved in the company's previous facility, the new credit facility has a three year maturity with more efficient and flexible terms to support the Company's growth plans.
Abdol Moabery, President and CEO of GA Telesis said: "HSBC and the syndicate banks provide international depth and expertise to support our continuing worldwide expansion. We are excited about this opportunity to better execute on our global business plan."
The newly established relationship between HSBC and GA Telesis, in addition to the increased support from existing syndicate banks is indicative of the confidence that financial institutions around the world have in the Company's plans for growth.
"This new credit facility will allow GA Telesis to continue its organic growth, acquire additional aircraft and engine assets, purchase aerospace related businesses and provide related financing solutions to airlines, aircraft and engine manufacturers, MROs and leasing companies," Moabery added.
GA Telesis' Chief Investment Officer, Alvin Khoo, added that "this facility is a core component of the Company's capital structure and also complements our other sources of debt and equity funding for transactions. With this capital raise, GA Telesis has raised more than $300 million in debt over the last 12 months and is in process of securing an additional $500 million debt commitment for 2015 sale-leaseback activity on aircraft, engines and inventory."
About GA Telesis
GA Telesis, LLC is a leader in providing worldwide support services to the commercial and defense aerospace industries. With financial, supply chain, component and heavy jet engine MRO businesses spanning the globe, GA Telesis is recognized as a pioneering leader in innovative solutions-based services in its sector. GA Telesis is one of the few independent companies in the world capable of providing a total-support solution to its customers from its 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 assets. In 2014, the company formed its GAIN subsidiary with an initial $500 million (US) commitment from Wafra Capital Partners Inc.
For more information, please contact Rebecca Longo at rlongo(at)gatelesis(dot)com.
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