By Wendy Van Sickle
Columbus, Ohio, June 3 – Aircastle Ltd. priced $400 million of 5.25% cumulative redeemable perpetual preference shares, series A, (Ba2/BB/BB+) on Thursday, according to a press release.
Aircastle will use the proceeds 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: | $400 million
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| Description: | Series A cumulative redeemable perpetual preference shares
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| Maturity: | Perpetual
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| Dividend: | 5.25%
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| Pricing date: | June 3
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| Settlement date: | June 8
|
| Ratings: | Moody’s: Ba2
|
| S&P: BB
|
| Fitch: BB+
|
| Distribution: | Rule 144A and Regulation S
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