Dublin-based aircraft lessor FLY Leasing has announced that it has signed an extension of its credit facility with Norddeutsche Landesbank Gironzentrale (Nord LB).

The facility was set to mature in November 2012 and has been extended until 2018.

As of December 31, 2011 the outstanding balance of the facility was $598m.

"The extension of our second-largest financing is a positive achievement that underscores both the quality of FLY's fleet and the strength of our banking relationships," said Colm Barrington, CEO of FLY Leasing. "Nord LB has a leading franchise in aircraft finance and we thank them for their continued support. The careful management of the company's refinancing risks is a core element of our commitment to enhance and grow shareholder value over time."

FLY has 109 aircraft on lease to 53 airlines around the world.

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