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Irish Aircraft Leasing Newsletter 3 November

Irish Aircraft Leasing Newsletter 3 November

Aergo Capital announces sale of two (2) Boeing 737-300 aircraft

Aergo Capital has completed the sale of two (2) 1997-98 Vintage Boeing B737-300 aircraft bearing manufacturers serial number (MSN) 28569 and 28869 to Star Air Cargo PTY Ltd .This ends 15 years of 737 classic ownership by Aergo.

Fly Leasing Closes New $180 Million Term Loan

Fly Leasing announced it has closed a new $180 million Term Loan. The interest rate on the five-year term loan is LIBOR plus 6.00% with a 1.00% LIBOR floor. The financing was issued at an original issue discount of 4.5%. The 2020 Term Loan will be secured by 11 narrowbody aircraft owned by FLY and its subsidiaries, four of which are unencumbered and seven of which are currently financed in FLY’s 2012 Term Loan. The proceeds will be used for general corporate purposes.

Monocle Acquisition Corporation Expects AerSale to Exceed Previously Issued 2020 and 2021 Forecasts

Monocle Acquisition Corporation announced that its merger partner AerSale has increased its financial outlook for 2020 and 2021. Following a strong third quarter and improving outlook, the Company now expects Pro Forma Adjusted EBITDA for 2020 to be in the range of $48 million to $52 million and 2021 Pro Forma Adjusted EBITDA to exceed $53.9 million

PIMCO & GECAS to Create $3 Billion Aviation Leasing Investment Platform

PIMCO and GE Capital Aviation Services (GECAS) announced that they have reached a preliminary agreement to develop an aviation leasing platform to support up to $3 billion in aircraft asset financings. The transaction is subject to customary closing conditions and receipt of required regulatory approvals. This strategic investment platform will enable GECAS and PIMCO­-advised accounts to acquire new and young fuel-efficient aircraft to meet the needs of a diverse set of global airlines over many years.

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