SMBC Aviation Capital has finalized a US$1.7 billion greenshoe upsize of its original US$2 billion syndicated finance facility, bringing the total transaction size to US$3.7 billion. The additional capital will support general corporate purposes.
The facility, initially announced in February in connection with the acquisition of Sumisho Air Lease Corporation, includes a five-year tranche of US$2.28 billion and a seven-year tranche of US$1.42 billion. Approximately US$1.4 billion falls within the seven-year portion, with the remainder in the five-year tranche.
General syndication drew participation from 33 financial institutions, increasing the total number of involved banks to 40 after the senior syndication phase with seven banks raised US$2 billion. The upsize also established 15 new banking relationships for the Dublin-based aircraft leasing company.