Atlas Air plans new debt financing for buyout by investor group

By Sara Rosenberg

New York, Aug. 4 – Atlas Air Worldwide has received a commitment for new debt financing to help fund its acquisition by Apollo, J.F. Lehman & Co. and Hill City Capital, according to an 8-K filed with the Securities and Exchange Commission on Thursday.

Goldman Sachs, Barclays, Apollo Capital Management, Mizuho and Credit Agricole provided the financing commitment.

Under the agreement, the company is being bought for $102.50 per share in cash. The transaction has an enterprise valuation of about $5.2 billion.

Closing is expected in the fourth quarter of 2022 or first quarter of 2023, subject to customary conditions, including approval by Atlas Air shareholders and receipt of regulatory approvals.

Atlas Air is a Purchase, N.Y.-based provider of outsourced aircraft and aviation operating services.

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