Next Level Aviation Secures $50MM Credit Facility with PNC Bank
Summary
The new working capital credit facility will be used to grow its existing USM distribution business and diversify product and service offeringsNext Level Aviation\xae (NLA), a leader in the global distribution of used serviceable materials (USM) for all Boeing and Airbus commercial aircraft and associated jet engine platforms, has secured a new $50MM revolving credit facility with PNC Bank with the potential to expand this facility over time as NLA grows. This significantly increased working capital credit facility will allow Next Level Aviation\xae to expand its inventory of serviceable material, as well as support the diversification of NLAs business into other complementary lines of business.Next Level Aviation\xae Chairman & CEO Jack Gordon stated, We are extremely pleased to work with PNC Bank, one of the largest diversified financial services institutions in the United States, to close this new working capital credit facility, which is the first step in laying the financial foundation for Next Level Aviations next phase of growth. We would like to thank the PNC Business Credit team for their professionalism and diligence in getting this new revolving credit facility closed in an efficient manner.Ray Fernandez-Andes, Next Levels Chief Financial Officer, commented, We are very excited about our new business relationship with PNC Bank and are looking forward to continue growing the business for many years to come with the support of this great financial institution.Peter Mardaga, Head of PNC Business Credit, commented, PNCs new relationship with Next Level Aviation will support the companys business goals and growth needs. We look forward to continuing to provide this recognized global supplier of aerospace parts with financial products and strategies that can help deliver differentiated value to its customers.