Press Release
Press Release
Press Contacts: Erik Cummins, Matt Hyams, Taina Rosa, Olivia Meyer
02.23.26
Pillsbury advised Azorra Aviation Holdings, LLC (“Azorra”), a full-service aircraft leasing company, on the amendment and extension of its revolving credit facility and the successful repricing and upsizing of its senior secured Term Loan B (“TLB”) facility. These transactions strengthen the company’s balance sheet, provide greater financial and operating flexibility, lower its funding costs, and complement the company’s debt maturity profile.
The TLB was repriced at three‑month SOFR plus 2.50%, a 100-basis point improvement relative to its initial pricing in October 2024 and 25 basis points improvement from the company’s repricing in July 2025. Simultaneously, the TLB was upsized by $100 million to $637.8 million, reflecting continuing strong lender support and confidence in Azorra’s credit performance and long‑term strategy. The TLB is now secured by a portfolio of 34 aircraft and five engines.
The proceeds from the TLB will be primarily used to repay certain existing debt and for general corporate purposes, including the acquisition of aircraft and engines.
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The Pillsbury team that advised Azorra was led by Asset Finance partners Mark Lessard and Pat Reisinger, senior associate Matt Reznick, associate Joseph Guarnaccia, Finance senior law clerk Savion Hall, and Asset Finance senior legal analysts Wendi Rees and Angela Farol.