Aircastle plans to price $300 million five-year bullets Monday

By Paul A. Harris

Portland, Ore., Dec. 2 - Aircastle Ltd. plans to price a $300 million offering of non-callable five-year senior notes Monday, following a mid-morning investor conference call, according to a syndicate source.

Citigroup Global Markets Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC and RBC Capital Markets LLC are the joint bookrunners for the public offer.

The notes feature a three-year 35% equity clawback and a 101% poison put.

The Stamford, Conn.-based jet aircraft lessor's current corporate credit ratings are Ba2 from Moody's Investors Service and BB+ from Standard & Poor's.

The company plans to use the proceeds for general corporate purposes, including the purchase of aviation assets.

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