AAR expands revolving credit facility by $550 million to support growth

AAR ($AIR) increased commitments under its revolving credit facility to $1.375 billion from $825 million and extended its maturity from December 2027 to October 2031. The amended facility remains unsecured. The company said the larger line supports financing for its previously announced, pending acquisition of a controlling stake in aircraft-maintenance provider MRO Holdings.

All banks in the existing lending group increased their commitments, and two additional banks joined. The amendment gives AAR more potential liquidity and a longer refinancing horizon as it pursues expansion in aviation aftermarket services. The $550 million increase represents additional committed borrowing capacity, rather than an announcement that the full amount has already been drawn. The MRO Holdings purchase remains a separate transaction awaiting completion, so the financing update does not establish that acquisition has closed.

Sources:

• PR Newswire