Sheltair Aviation has announced it closed a US$260m credit facility with SunTrust Bank on July 15, 2015 that will provide additional capital for the continued expansion of Sheltair’s existing bases, future acquisitions and strategic alliances.
Sheltair Aviation CEO, Jerry Holland, stated, “This is a significant accomplishment for our company. The facility provides the financial resources under the optimal capital structure necessary to pursue our strategic plans for our growing network of bases.”
Agent SunTrust Bank and sole lead arranger SunTrust Robinson Humphrey coordinated the financing with eight participant banks.
Warren Kroeppel, chief operating officer, Sheltair Aviation, said, “The lender group came together with the Sheltair Aviation team to design a facility that meets the needs of all parties. These banks have been supportive of the company for many years.
“Scott Holloway, our senior VP of capital solutions, has been instrumental in developing these relationships for the company over the past 12 years. We truly appreciate the long-term partnership we have enjoyed with our lenders and their confidence in the Sheltair team.”
Sheltair operates 16 FBOs and manages over 3,000,000ft² of aviation related properties at 22 airports in Florida, Georgia and New York.
August 4, 2015