03 Apr 2018
Irish Aircraft Leasing Newsletter 3 April
AerCap Announces Completion of $0.95 Billion Unsecured Revolver Amendment and Extension
AerCap announced 28 March that it has completed the upsize, amendment and extension of its $0.60 billion unsecured Revolving Credit Facility. The new facility size is $0.95 billion and comprises a four-year revolving period. CTBC Bank Co., Ltd, DBS Bank Ltd. and First Abu Dhabi Bank PJSC acted as Coordinators. Citi acted as Facility Agent.
Avolon Announces Closing of US$768.4 million Fixed Rate Secured Notes by Sapphire Aviation Finance
Avolon announced 23 March that Sapphire Aviation Finance I Limited and Sapphire Aviation Finance I (US) LLC a newly established special purpose companies, closed a total of US$768.4 million of Fixed Rate Secured Notes. The Notes are backed by a portfolio of 41 aircraft with an appraised value of $962.4m, which will be acquired by SAPA 2018-1 from Avolon using the proceeds of the issuance. The Portfolio comprises a mix of narrowbody and twin-aisle aircraft leased to 30 lessees based in 19 countries
Barings Alternative Investments Expands Aviation Investment Platform Through Partnership with Genesis Aircraft Services
Barings Alternative Investments announced 23 March the expansion of its aircraft leasing platform on behalf of the firm’s institutional fund clients through Genesis Aircraft Services Limited. As part of its increased capabilities, Karl Griffin will join Genesis as Chief Commercial & Investment Officer and will also be appointed to the Genesis Board of Directors effective May 2018; Anna Reimers will join Genesis as Chief Legal Officer; and John McMahon will be appointed to Genesis’ Board as an independent director.
CDB Aviation and SpiceJet Sign Lease Agreement for Five 737 MAX Aircraft
CDB Aviation announced 27 March that the company signed an agreement with India’s low-cost carrier SpiceJet Ltd for the long-term lease of five Boeing 737 MAX 8 aircraft. All five aircraft are from CDB Aviation’s order book with Boeing, and are expected to deliver to the airline in 2019.
NAC delivered one ATR 72-600, MSN 1131, to Regional Jet OÜ on lease
Nordic Aviation Capital (NAC) announced 22 March that it has delivered one ATR 72-600, MSN 1131, to Regional Jet OÜ on lease.
NAC has recently completed the placement of US$486m of unsecured debt
NAC has recently completed the placement of US$486m of unsecured debt through US$381 million Senior Unsecured Private Placement issuance and an US$105 million Unsecured Schuldschein offering. These issuances consist of 3,5,7,8, and ten-year tranches. The proceeds will be used to refinance aircraft within its portfolio. The issuances will rank pari passu with all other unsecured indebtedness of the Issuer, a wholly-owned subsidiary of NAC.
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