AJ Walter taps CIT Bank for $125m loan

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AJ Walter Aviation has raised financing to support spare parts acquisitions to service its growing customer portfolio.

The UK-based company mandated CIT Bank to arrange a $125 million senior secured credit facility. The facility was syndicated, says the bank.

CIT Aerospace & Defense Finance acted as administrative agent for the transaction. The deal was structured and facilitated by CIT Capital Securities as lead arranger, and the financing was provided by CIT Bank, a wholly owned subsidiary of CIT.

"AJ Walter Aviation is a leader in the aviation supply chain and this transaction further demonstrates our commitment to deliver leading financial solutions to the aerospace marketplace," says Oliver Althoff, director CIT Aerospace & Defense Finance.

AJ Walter Aviation's treasurer and chief investment officer, Ian Malin, adds: "This transaction was carefully structured to accommodate our current business model and provides a financing solution that allows AJW to maintain its growth objectives."