By Devika Patel and Cristal Cody
Knoxville, Tenn., Jan. 22 – Aircastle Ltd. offered further details, including the spread of Treasuries plus 230 basis points, on its $750 million sale of 2.85% seven-year senior notes (Baa3) that priced on Thursday at 98.543, according to a market source.
Initial price talk was in the Treasuries plus 255 bps to 260 bps area.
BNP Paribas Securities Corp., Credit Agricole CIB and J.P. Morgan Securities LLC were the active bookrunners, while Mizuho Securities USA Inc. and Wells Fargo Securities LLC were passive bookrunners.
Aircastle will use the proceeds from the Rule 144A and Regulation S issue for general corporate purposes, possibly including the repayment, refinancing or redemption of existing debt.
Stamford, Conn.-based Aircastle acquires, leases and sells commercial jet aircraft to airlines.
| Issuer: | Aircastle Ltd.
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| Amount: | $750 million
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| Description: | Senior notes
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| Maturity: | Jan. 26, 2028
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| Bookrunners: | BNP Paribas Securities Corp., Credit Agricole CIB and J.P. Morgan Securities LLC (active); Mizuho Securities USA Inc. and Wells Fargo Securities LLC (passive)
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| Coupon: | 2.85%
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| Price: | 98.543
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| Spread: | Treasuries plus 230 bps
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| Pricing date: | Jan. 21
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| Settlement date: | Jan. 26
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| Rating: | Moody’s: Baa3
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| Distribution: | Rule 144A and Regulation S
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| Price guidance: | Treasuries plus 255 bps to 260 bps area
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