Sheltair closes $260 million credit facility with SunTrust

Sheltair Aviation has closed a $260 million credit facility with SunTrust Bank. Sheltair operates 16 FBOs on the US east coast.

The credit facility will be used for the continued expansion of Sheltair’s existing bases, future acquisitions and strategic alliances.

“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.”

Jerry Holland, CEO of Sheltair Aviation said: “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.”

ALSO READ: Sheltair opens new FBO in Florida

SunTrust Bank, as Agent and SunTrust Robinson Humphrey as sole Lead Arranger, coordinated the financing with eight participant banks.

Sheltair Aviation was represented by Damaso Saavedra of Saavedra | Goodwin, Fort Lauderdale, FL while Lenders were represented by Moore & Van Allen, PLLC, Charlotte, NC.

Warren Kroeppel, chief operating officer for 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 twelve years. We truly appreciate the long-term partnership we have enjoyed with our lenders and their confidence in the Sheltair team.”

Sheltair Aviation is headquartered in Fort Lauderdale, Florida and is a privately owned aviation company.