Ft. Lauderdale, Florida–based aviation company GA Telesis, LLC, closed a new five year $225m ABL credit facility.
The facility was led by HSBC Securities USA and Fifth Third Bank as joint lead arrangers and comprises seven global, super-regional, and regional banks with HSBC Bank USA as Administrative Agent. The facility is a refinancing of an existing $150 million ABL facility led by HSBC which was set to expire in 2018.
The proceeds from the facility will be used for general corporate purposes, acquisitions, and funding of future growth.
Led by Abdol Moabery, President and CEO, GA Telesis provides integrated aviation solutions serving the aviation and aerospace industries integrating its financial asset structuring expertise with component supply chain solutions, jet engine MRO, aircraft systems MRO, and aerostructures MRO services.