NEW YORK, Dec. 20, 2016 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (NASDAQ:PSEC) announced today that Prospect's aircraft leasing portfolio company Echelon Aviation, LLC recently closed the acquisition of two 737-700 aircraft in connection with a sale and leaseback by Jet Airways. Jet Airways is the largest full service airline in India.
Echelon invested $19 million in the transaction, not including third party financing.
Echelon has invested in 14 separate aircraft transactions since 2014, aggregating $479 million in enterprise value.
“We are pleased to complete this sale and leaseback transaction with Jet Airways through our portfolio company Echelon Aviation,” said Richard Carratu, Managing Director of Prospect Capital Management L.P. “We look forward to supporting Jet Airways and other worldwide airlines with additional aircraft financings to continue to grow our investment in Echelon.”
ABOUT PROSPECT CAPITAL CORPORATION
Prospect Capital Corporation (www.prospectstreet.com) is a business development company that focuses on lending to and investing in private businesses. Prospect’s investment objective is to generate both current income and long-term capital appreciation through debt and equity investments.