AerCap Holdings N.V. Announces Pricing of $600 million Aggregate Principal Amount of Senior Notes
AerCap announced 14 August that AerCap Ireland Capital Designated Activity Company and AerCap Global Aviation Trust, each a wholly-owned subsidiary of the Company, priced their offering of senior notes, consisting of $600 million aggregate principal amount of 4.450% Senior Notes due 2025. The Notes will be fully and unconditionally guaranteed on a senior unsecured basis by the Company and certain other subsidiaries of the Company. The Issuers intend to use the net proceeds from the Notes for general corporate purposes. Credit Suisse Securities (USA) LLC, MUFG Securities Americas Inc., RBC Capital Markets, LLC, TD Securities (USA) LLC and Wells Fargo Securities, LLC are serving as joint book running managers for the underwritten public offering.
Aircastle Corporate and Senior Unsecured Credit Ratings Upgraded to Baa3 by Moody’s
Aircastle announced 14 August that Moody’s Investors Service has raised the Company’s corporate family and senior unsecured credit ratings to Baa3 from Ba1 based on Aircastle’s improved performance prospects, reduced fleet risk, conservative capital position and effective liquidity management. Mike Inglese, Aircastle’s Chief Executive Officer, stated, “Aircastle is now part of a select group of global aircraft leasing companies with investment grade credit ratings from all three major rating agencies. We are very pleased that Moody’s, S&P and Fitch recognize the strength of Aircastle’s business platform and our unique position in the industry.”
Floreat Group partners with MUFG to create $500 million aviation portfolio
Floreat, the privately-held investment group, is to acquire a $500 million portfolio of Boeing and Airbus aircraft as it continues to secure opportunities in the aviation finance sector on behalf of clients. The group, which completed an award-winning securitization of a $450 million portfolio of A330s in 2016, has appointed MUFG to source a portfolio of aircrafts, which are on lease to airlines around the globe.
Intrepid Aviation Announces the Closing of a Private Offering of $500 Million of Senior Unsecured Notes and the Completion of the Redemption of its Existing Senior Notes due 2019
Intrepid announced 10 August that it has completed its previously announced offering of senior notes due 2021.The Notes were co-issued by Intrepid’s wholly owned subsidiary, Intrepid Finance Co. The Notes were issued in an aggregate principal amount of $500 million, will bear interest at a rate of 8.500% per year, subject to adjustment in certain circumstances, and were priced at par. Intrepid used the net proceeds of the Offering, together with cash on hand, to complete the previously announced redemption of all $515 million aggregate principal amount outstanding of the Issuers’ 6.875% Senior Notes due 2019.
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