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AerCap to pay up to $600 million to purchase three series of notes
By Taylor Fox
New York, Nov. 30 – AerCap Holdings NV wholly-owned subsidiary AerCap Global Aviation Trust is offering to purchase for cash three series of notes for up to $600 million, according to a news release.
Specifically, the notes included in the offers, by acceptance priority level are:
• $982,923,000 outstanding 3.95% senior notes due 2022 (Cusip: 00772BAR2) for a hypothetical total consideration of $1,030.55 per note, which will be calculated using the 0.125% U.S. Treasury due Nov. 30, 2022 plus a fixed spread of 85 basis points;
• $600 million outstanding 3.5% senior notes due 2022 (Cusip: 00774MAA3) for a hypothetical total consideration of $1,033.07 per note, which will be calculated using the 0.125% U.S. Treasury due Nov. 30, 2022 plus a fixed spread of 90 bps; and
• $500 million outstanding 4.625% senior notes due 2022 (Cusip: 00772BAP6) for a hypothetical total consideration of $1,050.64 per note, which will be calculated using the 0.125% U.S. Treasury due Nov. 30, 2022 plus a fixed spread of 115 bps.
The hypothetical total considerations include a $30 early tender premium for noteholders who tender by the early tender deadline at 5 p.m. ET on Dec. 11.
The considerations will be calculated at 10 a.m. ET Dec. 14.
The early settlement date is expected to be Dec. 15.
The offers will expire at 11:59 p.m. ET on Dec. 28.
The final settlement date is expected to be Dec. 30.
The purchase will be funded using cash on hand.
BofA Securities (980 387-3907; debt_advisory@bofa.com) and Goldman Sachs & Co. LLC (800 828-3182, 212 357-1452) are lead dealer managers.
Morgan Stanley & Co. LLC, RBC Capital Markets, LLC and Scotia Capital (USA) Inc. are co-dealer managers.
Global Bondholder Services Corp. (212 430-3774, 866 807-2200; contact@gbsc-usa.com) is the information agent and tender agent.
AerCap is an independent aircraft leasing company based in Amsterdam.
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