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Griffin Global Asset Management Signs Amendment, and Upsizing of Warehouse Facility to $1.6 Billion of Capacity
Dublin, Ireland – January 12, 2023 – Griffin Global Asset Management DAC and Griffin Global Asset Management (Servicer) LLC (together, “Griffin”) announced today that on December 27, 2022 Palisade Aviation Holdings Warehouse, Ltd. and Palisade Aviation Holdings Warehouse, LLC (together, the “Borrowers”), signed an amendment, and upsizing transaction for its senior secured warehouse facility, which now has a committed amount of $1,600,000,0000 (the “Facility”). The initial Facility had $1,000,000,000 of capacity and was awarded the Airline Economics Global Editor’s Deal of the Year Award for 2021. The Borrowers were jointly established by Griffin and funds managed by Bain Capital Special Situations as part of a joint venture focused on building a diversified aviation portfolio in conjunction with a world-class commercial aviation leasing and alternative asset management platform.
“As the Griffin platform continues to grow, it is enabled through the continued support from our lending group. We are happy to announce the increase in Facility size, as well as the addition of Bank of Montreal to this group.” said John Beekman, Chief Financial Officer of Griffin.
As part of the amend, and upsize transaction, commitments for the facility were provided by Bank of America, N.A., Barclays Bank PLC, Goldman Sachs, Mizuho Americas, Morgan Stanley, PNC Bank, Wells Fargo Bank, National Association, Societe Generale, Deutsche Bank AG, New York Branch, and Bank of Montreal.
Hughes Hubbard & Reed LLP acted as U.S. legal advisors to Griffin and the Borrowers, Milbank LLP acted as legal advisors to the Lenders, Maples and Calder (Ireland) LLP acted as Irish legal advisors for the Borrowers, Maples and Calder (Cayman) LLP acted as Cayman Islands legal advisors for the Borrowers, A&L Goodbody LLP acted as Irish legal advisors to Griffin and PWC acted as Irish tax advisors for Griffin and the Borrowers. UMB Bank, N.A. is acting as the administrative agent and the security trustee.
About Griffin Global Asset Management
Griffin is a commercial aircraft leasing and alternative asset management business with offices in Dublin, Ireland, Puerto Rico and Los Angeles, USA. Griffin’s team of aviation professionals works closely with airlines, OEMs, and financiers to deliver customized fleet solutions and innovative financing products to airlines globally.
For more information, please visit www.griffingam.ie or www.griffingam.com.
About Bain Capital Special Situations
Bain Capital Special Situations has $16 billion in assets under management and has invested $28 billion since its founding in 2002. We provide bespoke capital solutions to meet the diverse needs of companies, entrepreneurs, and asset owners - in all market cycles. We invest globally across capital structures incorporate debt and structured capital solutions, distressed assets, non-performing loans, real asset opportunities, and growth equity. Our dedicated, global team of 105 investment and portfolio professionals contribute the local expertise and capabilities that enable complex investments across markets and cycles.