DUBLIN, Ireland - FLY Leasing Limited (NYSE: FLY), a global lessor of commercial aircraft, today announced it has increased the size of its aircraft acquisition facility from $250 million to $450 million.

The facility’s availability period has also been extended for two years, followed by a three year term out period to July 2018. The margin on the facility was reduced by 0.50% to 3.25% during the availability period.

In addition, two new lenders, EverBank Commercial Finance and Scotiabank, joined the facility.

Colm Barrington, chief executive officer of FLY Leasing, said: “We are delighted to have upsized, extended and re-priced our aircraft acquisition facility.

“FLY will continue to focus on growing our fleet through acquisitions of the most modern and popular aircraft that are in high demand with airlines around the world.”