Wednesday, June 5, 2013
Milestone Receives Ex-Im Financing for Sikorsky S-92 Purchase
Dublin, Ireland-based Milestone Aviation has secured a $187.4-million guarantee of a capital-markets bond from the Export-Import of the United States (Ex-Im Bank). The financing is related to the export of a number of Sikorsky S-92s that are in service with five operators in the UK, Norway and Brazil. Milestone estimates that the export sale supports around 1,500 jobs in the U.S., including at Sikorsky’s plants in Stratford, Conn. and Coatesville, Pa., and at principal subcontractors General Electric, Hamilton Sundstrand and Rockwell Collins. Deutsche Bank Securities served as the structuring agent in the transaction. The purchase of the S-92s, which were delivered from November 2012 through May 2013, was initially funded by a commercial bridge facility that the capital-markets bond will replace.