US aircraft and engine leasing and trading company Zephyrus Aviation Capital has secured a $350m warehouse finance facility.
Deutsche Bank New York Branch has served as the structuring agent and lead arranger.
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Zephyrus’ first warehouse facility will start housing aircraft in the upcoming weeks.
The new facility comes a year after the launch of its ZCAP 2018-1 asset-backed securities (ABS) facility and is specially designed for mid-life to older-life aircraft.
The $336.6m ABS transaction was for 21 mid-life to late-life aircraft, which includes a combination of predominantly narrow-body, in-production Airbus and Boeing aircraft.
Zephyrus president and CEO Damon J D’Agostino said: “After the success of our initial ABS, it was a pleasure to once again work with Deutsche Bank and our other partners on this warehouse facility, as this continuity allows us to more efficiently execute our business growth and development plans.
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By GlobalData“This new facility coupled with our highly skilled team and existing equity will enable us to be even more responsive in providing solutions in the mid-life to late-life aircraft market.”
UMB Bank will serve as the facility agent and security trustee while Canyon CTS will be the managing agent.
VedderPrice acted as adviser to Zephyrus and the borrowers while Clifford Chance serves as the adviser for Deutsche Bank.
Based in the San Francisco Bay area, Zephyrus provides fleet management solutions for aircraft and specialises in the mid to mature stage aircraft.
The company is financed by Virgo Investment Group.
