AeroCentury revises loan to keep availability through April 2013

By Sara Rosenberg

New York, March 12 - AeroCentury Corp. modified its credit facility, providing that the $90 million of availability will be accessible through April 29, 2013, according to an 8-K filed with the Securities and Exchange Commission on Monday.

In addition, the company revised covenants regarding leverage, interest coverage, fixed charge coverage and borrowing base calculations.

The loan modification was completed on March 8 and will take effect on April 28.

Union Bank is the agent on the deal.

AeroCentury is a Burlingame, Calif.-based aircraft leasing company.

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