Goshawk Completes Extension and Upsizing of Unsecured RCF
Leading Dublin-based aircraft lessor, Goshawk has announced the extension and upsize of its unsecured Revolving Credit Facility (RCF) from November 2022 to November 2024 with a syndicate of banks. The current facility of $1.2bn will be increased to $1.4bn with 18 participating lenders, including two new lenders, into the facility. The RCF is Goshawk’s core liquidity facility and is key to supporting the company’s ongoing business and future growth. The extension demonstrates Goshawk’s continued ability to raise finance as it prepares for the post-Covid recovery of the aviation sector. Citibank acted as Sole Coordinator and Facility Agent for the transaction and O’Melveny & Myers LLP acted as legal counsel to Goshawk.
Commenting on the announcement, Chief Financial Officer at Goshawk Colin Golden said, “We are delighted with the successful extension of our Revolving Credit Facility and to welcome new lenders to the facility. We are pleased that we continue to have access to liquidity at attractive terms and appreciate the support of our Tier 1 lenders who upsized their participation, which illustrates the confidence that our lenders have in our business model and how well we have navigated through the Covid crisis.”
Since it was founded in November 2013, Goshawk has grown to have a fleet that consists of 222 Airbus, Boeing and Embraer aircraft, on lease to 61 airlines in 34 countries. Goshawk is a joint venture company held 50% by each of Chow Tai Fook Enterprises Limited and NWS Holdings Limited, two Hong Kong based enterprises. The company has its headquarters in Dublin with offices in Hong Kong and the United States.
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