Financing ·
AAR increases revolving credit facility commitments to $1.375 billion and extends maturity to October 2031
AIRAar Corp
AAR CORP entered into Amendment No. 3 to its existing revolving credit facility, increasing aggregate lender commitments by $550 million to a total of $1.375 billion. The amendment extends the maturity date from December 2027 to October 2031 and adjusts financial covenants, including raising the maximum leverage ratio to 5.50 to 1.00 and lowering the minimum interest coverage ratio to 2.00 to 1.00. The facility remains unsecured with variable SOFR-based pricing. This financing supports AAR's pending acquisition of a controlling interest in MRO Holdings, Inc., though borrowing availability is not conditioned on that deal closing. AAR CORP operates as a leading global aerospace and defense aftermarket solutions company providing parts supply, repair, engineering, software, and government solutions.