First Citizens Bank Provides $50 Million to SLI, an Aerospace Subsidiary of Libra Group, to Refinance Aerospace Assets

NEW YORK, N.Y. — May 15, 2025 — First Citizens Bank today announced that its Aerospace, Defense & Government Services business provided $50 million to Space Leasing International (“SLI”).

Founded in 2023, Libra Group’s SLI is building on Libra’s 20+ years of aviation leasing experience to become the world’s first space leasing company dedicated to the full spectrum of space assets. First Citizens Bank has been a long-time, trusted banking partner of Libra Group and its subsidiaries, LCI and Lomar Shipping.

First Citizens secured a foundational $325 million helicopter warehouse facility for LCI in 2014, among other transactions, and has been a trusted financing partner of Lomar Shipping vessels for many years. 

“We thank First Citizens Bank, the other financial institutions, and LCI for their support in completing this transaction. We look forward to exciting future announcements from SLI,” said Praveen Vetrivel, CEO of SLI.

"We are pleased to support the team at SLI, which has a long and trusted relationship with our group,” said Eduard Vernède, Head of Aerospace, Defense & Government Services at First Citizens Bank. ”We look forward to working with the SLI team and the wider Libra Group on their future growth."

"This deal highlights our team's in-depth industry knowledge and commitment to providing customized financing options to important clients in the aerospace industry," he added.

First Citizens Bank’s Aerospace, Defense & Government Services business, part of the company’s Commercial Finance group, provides integrated financial solutions to manufacturers, suppliers and service providers across the aerospace, defense, homeland security and government services sectors.

About First Citizens Bank
First Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. Headquartered in Raleigh, N.C., First Citizens has built a unique legacy of strength, stability and long-term thinking that has spanned generations. First Citizens offers an array of general banking services including a network of branches and offices nationwide; commercial banking expertise delivering best-in-class lending, leasing and other financial services coast to coast; innovation banking serving businesses at every stage; and a nationwide direct bank. Parent company First Citizens BancShares, Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with more than $200 billion in assets and a member of the Fortune 500™. Discover more at firstcitizens.com.

MEDIA RELATIONS:
John M. Moran
212-461-5507
john.moran2@firstcitizens.com