On February 15, 2008, Aero Inventory PLC and Aero Inventory (UK) Limited, entered into a Revolving Facility Agreement with regards to a US$425 million (which may be increased to up to US$500 million) senior secured credit facility made available by Lloyds TSB Commercial Finance Limited, as lender, agent and security trustee, with a syndicate of lenders, as well as in a Debt Purchase Facility Agreement with regards to a US$40 million debt purchase facility made available by Lloyds TSB Commercial Finance Limited, as debt purchaser.
These new five-year facilities were led by Lloyds TSB Commercial Finance Limited and included an asset-based lending facility secured on Aero Inventory's stocks and trade debtors in the United Kingdom, Ireland, Canada, the United States, Hong Kong and Australia.
Aero Inventory PLC and Aero Inventory (UK) Limited are involved in the business of the provision of customised e-based procurement and inventory management solutions to companies in the aerospace industry in the UK, Continental Europe, Australia and Asia Pacific with a long-term goal to become the world's leading aircraft consumable parts service provider.
Lloyds TSB Commercial Finance Limited was represented in Canada by Ogilvy Renault LLP, with a team comprised of Kevin J. Morley, David M.A. Amato and Serge Levy, and in the United Kingdom by CMS Cameron McKenna LLP, with a team consisting of Neil James, Allison Smith, Satesh Kumar and Chun Ong.
Aero Inventory PLC and Aero Inventory (UK) Limited were represented in the United Kingdom by Taylor Wessing LLP, with a team consisting of Dominic Ross, Marcus Earnshaw, Sam Hogrefe, James McCarthy and Natasha Yates; and in Canada by Stikeman Elliott LLP, with a team consisting of Sterling Dietze, Edward B. Claxton and Sylvia Avedia (Québec), Peter Hamilton and Mairi MacGillivray (Ontario), and Scott Perrin (British Columbia); and by Aikins, MacAulay & Thorvaldson LLP in Manitoba by Nigel Thompson.