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18 October 2012 at 13:55 - Posted by AfricaFinance

GA Telesis Closes New $100 Million Credit Facility


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ME Newswire / Business Wire

FORT LAUDERDALE, Fla. - Thursday, October 18th 2012

GA Telesis, LLC, today announced that it has closed on a new syndicated $100 million credit facility. Led by PNC Bank, N.A., the facility has a three year term and has participation from a total of six global and regional banks. It provides the company with additional financial resources at cost efficient and flexible terms to support the company’s growth.

Abdol Moabery, President and CEO of GA Telesis, LLC said: “The PNC team did a wonderful job pulling together a global consortium of banks and we are excited about our ability to better execute on our business plan.”

The larger credit facility has more favorable terms and conditions. With a larger group of partners globally, the new facility reflects both the international profile of GA Telesis and the confidence that the market has in the company's plans for growth.

“This new credit facility will allow GA Telesis to accelerate 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.

Contacts

GA Telesis, LLC

Beth Ginzberg, 954-676-3111

bginzberg@gatelesis.com

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