Genesis adds BayernLB as co-lender to $450 million credit warehouse facility
Global Commercial aircraft – Lessor expands credit facility to facilitate prudent fleet growth
5th September 2024: Genesis, the Dublin based commercial aircraft leasing company, announced today that BayernLB have joined their $450 million warehouse facility as a co-lender. The facility was led by Citibank, N.A., with BayernLB joining Morgan Stanley & Co., LLC and Bank of America as co-lenders.
Genesis CFO Adam Smyth stated, “I am delighted to announce the addition of BayernLB as a co-lender to our warehouse facility. I am grateful for the continued support of Citibank, Morgan Stanley and Bank of America, and I am pleased to welcome BayernLB. Genesis are happy to diversify our lender base and we look forward to continuing our relationship with BayernLB in the future. We are also extremely pleased that the finance community continues to see strength and growth in the Genesis platform as well as the global aviation industry.
“Viktor Berta, Director Aviation & Space, BayernLB commented, “The transaction represents our first aircraft-secured warehouse participation and we are pleased to add this product to our offering while welcoming Genesis amongst our clients. Building lasting relations with expert lessors is paramount to our continued growth in the aviation finance space and we’re grateful for Genesis’ trust in our abilities.”
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