PIF's AviLease closes $1.5B revolving credit facility

Logo of Aircraft Leasing Co. (AviLease)

Aircraft Leasing Co. (AviLease), an aircraft leasing company owned by the Public Investment Fund (PIF), signed a three-year, unsecured revolving credit facility worth $1.5 billion (nearly SAR 5.62 billion).

In a statement, the company said 20 leading global banks participated in the financing, including eight new banking partners from Europe, Asia, and North America.

The partners include National Bank of Kuwait, Abu Dhabi Commercial Bank, BNP Paribas, Bank of China, Crédit Agricole CIB, China Construction Bank (Asia), Citibank, DBS Bank, Emirates NBD, First Abu Dhabi Bank, HSBC, ING, Intesa Sanpaolo, JP Morgan, Mizuho, Morgan Stanley, MUFG, Natixis Corporate & Investment Banking, OCBC, and Standard Chartered.

In June 2022, the PIF launched AviLease to focus on sale-and-leaseback transactions (SALTs) with airlines, as well as fleet management services, and direct orders from aircraft manufacturers, according to data available with Argaam.