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LCI Finances $55 Million to Expand Leonardo Fleet

By S.L. Fuller | February 16, 2018
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LCI Helicopters delivers first AW139 to Westpac Rescue Helicopter Service in 2016.

Lease Corporation International (LCI) has closed its inaugural capital markets term loan financing. At closing, value was in excess of $55 million, LCI said.

With the proceeds, LCI said, it plans to fund the continuing expansion of its fleet and acquire six new Leonardo AW139s and AW169s. All aircraft have lessees awaiting their service in EMS and search and rescue operations.


“LCI’s fast-growing helicopter leasing platform has now achieved the size for us to undertake our maiden capital markets placement,” said Jaspal Jandu, CFO of LCI. “This transaction enables us to diversify our capital base and lower our cost of capital, further increasing the efficiency of our operations.”

The private, senior secured tranches have a maturity of five years, LCI said. They were offered to a range of financial firms in the U.S. CIT Group Inc. and Prudential Capital Group jointly funded the financing.

LCI is focusing its fleet on medium and super-medium aircraft. Comprising some $750 million in assets, the fleet includes models from Airbus and Sikorsky, as well as Leonardo.

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