Aircraft lessor Azorra has said it was thrilled with “strong investor support” having closed a $988 million debt financing facility.

The transaction includes a $750 million, increased from $500 million due to a “significant oversubscription”, and a revolving credit facility and a $238 million recourse debt financing.

The new financing will allow Azorra to continue its growth trajectory, the company said, enabling the it to support the expansion of its aircraft leasing portfolio and acquire additional aircraft.

John Evans, chief executive of Azorra, said: “We are thrilled with the strong investor support for this financing.

“This achievement underscores the confidence in our business model and our commitment to delivering exceptional value to our customers.”

Claudia Ziemer, senior vice president finance, added: “Securing this financing is a pivotal moment for Azorra.

“It significantly strengthens our financial position and provides us with the flexibility to capitalize on growth opportunities in the dynamic aviation industry.”

Citi served as Global Coordinator for the financing, and BNP Paribas, Fifth Third, Natixis and Société Générale acted as Joint Lead Arrangers.

Airbus Bank, Bayern LB, Bank of America, Deutsche Bank, MUFG, PNC and RBC also participated as co-arrangers.

The financing marked the establishment of new banking partnerships with Airbus Bank, Bank of America, PNC, RBC and Société Générale.