Chorus Aviation extends credit facility 15 months, adds accordion

By Wendy Van Sickle

Columbus, Ohio, Jan. 27 – Chorus Aviation Inc. entered into a second amendment and restatement of its existing committed operating credit facility with Scotiabank as lender, sole arranger, bookrunner, administrative agent and issuing bank to extend the maturity date to Jan. 27, 2026 from Oct. 14, 2024 and adds a C$50 million uncommitted accordion feature, according to a news release.

The amended facility provides Chorus and certain designated subsidiaries including Chorus Aviation Capital Corp., Jazz Aviation LP and Voyageur Aviation Corp. with a committed limit of up to C$100 million, subject to a borrowing base, plus a C$50 million uncommitted accordion.

The facility is secured by all present and after-acquired personal property of the credit parties, excluding some specified assets such as aircraft and engines and the equity securities of certain subsidiaries.

The Dartmouth, N.S.-based holding company controls regional and charter airline operator Jazz Aviation LP.

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