Integrated Asset Management Corp. (TSX: IAM) through its private corporate debt group, IAM Private Debt Group, has provided a $12,000,000 senior loan to Georgian Aircraft Corp.
Mississauga, Ontario based Georgian Aircraft will use new funds to refinance existing aircraft loans.
Georgian Aircraft is a provider of aircraft leasing and management services. The company has a 50% ownership in Air Georgian Limited (AGL), a regional partner of Air Canada, that operates regional domestic and United States transborder commercial passenger flights for the past 18 years.
IAM Private Debt Group manages and provides funding from Integrated Private Debt Fund LPs on behalf of a number of pension funds and other institutional investors. The Private Debt Group offers fixed rate, investment grade term loans to mid-market companies for such purposes as refinancing existing debt, acquisitions, plant expansion or modernization, project financing and management buyouts.
IAM Private Debt Group currently is investing Integrated Private Debt Fund V, a $667 million 2015-vintage fund.
photo credit: Georgian Aircraft Corp., Air Canada