AWAS increases final size of Unsecured Revolving Credit Facility

AWAS announced today that its first Unsecured Revolving Credit Facility size was increased from the original $300m target to a final $435m due to strong syndication feedback, following presentations to prospective participants in New York, Singapore and Taipei.

Ray Sisson, President & CEO AWAS commented, “We are very pleased with the continued support and confidence that the capital markets have shown AWAS. We will continue our high-yield focus which we have proven over the past three plus years is a sustainable growth model.”

The commitments for this Facility are sourced from total of 12 lenders, including 6 new lenders to AWAS. The transaction was supported by commitments from four joint-lead arrangers (JLAs), Royal Bank of Scotland, RBC Capital Markets, DBS Bank and BNP Paribas.

This new facility will have a 3 year term with pricing at Libor plus 225bp supported by AWAS’ BB+ Corporate Credit Rating, positive year-end consolidated results and the overall growth and successful expansion of its global leasing platform.