AvAir Secures Major Expansion with Enhanced Credit Facility

USA - English

News provided by

Mar 25, 2024, 08:00 ET

CHANDLER, Ariz., March 25, 2024 /PRNewswire/ -- AvAir, a leading inventory solutions provider for the aviation aftermarket, has announced the successful closure of a new three year syndicated senior credit facility led by HSBC Bank USA. This new facility represents a significant leap forward, offering increased availability, more favorable pricing, and improved terms compared to the company's previous credit arrangement. The overwhelming interest from syndicate participants enabled AvAir to increase the facility's size at closing, showcasing a strong vote of confidence in the company's growth trajectory.

The syndicate, led by HSBC Bank USA as Administrative Agent and Lead Arranger, also includes First Citizens Bank and Western Alliance Bank.

Mike Bianco, Chief Executive Officer of AvAir, expressed his enthusiasm about the company's financial and operational success, which has positioned them to not only refinance but also substantially expand their borrowing capacity.

"Partnering with esteemed aviation lenders such as HSBC, First Citizens, and Western Alliance is a testament to our commitment to excellence and innovation in serving our customers' inventory needs," stated Bianco.

AvAir's recent accolade of being named the No. 1 "Parts Supplier of the Year" by Airline Economics for the fourth consecutive year underscores the company's unwavering dedication to industry leadership and outstanding reputation.

With over two decades of experience, AvAir offers customized solutions for customers and suppliers to transact through buying, selling, exchanging, loaning, leasing, or consigning, boasting a vast inventory of more than 26 million components. The company's adherence to ISO 9001, AS9120, and ASA 100 certifications ensures the highest quality standards across all operations, from procurement to shipping, solidifying AvAir's position as a trusted partner in the aviation aftermarket.

About AvAir
Founded in 2000, Arizona-based AvAir is a global leader in the aviation aftermarket, providing customized inventory solutions for airlines, OEMs, and MROs. AvAir has been named Parts Supplier of the Year for 2021, 2022, and 2023 by Airline Economics, the leading industry trade publication. It has also been recognized for its work in sustainability by The Aviation 100, AvAir received the Environmental Sustainability award. For more about AvAir, visit AvAir.aero.

CONTACT:
Claire Natale
[email protected]

SOURCE AvAir