By Cristal Cody
Tupelo, Miss., June 10 – Aircastle Ltd. priced $650 million of 4.25% seven-year senior notes (Baa3/BBB-/BBB-) on Monday at a spread of 230 basis points over Treasuries, according to an FWP filing with the Securities and Exchange Commission.
The notes priced at 99.515 to yield 4.331%.
J.P. Morgan Securities LLC, BNP Paribas Securities Corp., Credit Agricole Securities (USA) Inc. and Wells Fargo Securities LLC were the bookrunners.
Proceeds will be used for general corporate purposes, which may include debt refinancing.
Stamford, Conn.-based Aircastle acquires, leases and sells commercial jet aircraft to airlines.
| Issuer: | Aircastle Ltd.
|
| Amount: | $650 million
|
| Description: | Senior notes
|
| Maturity: | June 15, 2026
|
| Bookrunners: | J.P. Morgan Securities LLC, BNP Paribas Securities Corp., Credit Agricole Securities (USA) Inc. and Wells Fargo Securities LLC
|
| Coupon: | 4.25%
|
| Price: | 99.515
|
| Yield: | 4.331%
|
| Spread: | Treasuries plus 230 bps
|
| Call features: | Make-whole call before April 15, 2026 at price equal to greater of par and Treasuries plus 35 bps; thereafter at par
|
| Trade date: | June 10
|
| Settlement date: | June 13
|
| Ratings: | Moody’s: Baa3
|
| S&P: BBB-
|
| Fitch: BBB-
|
| Distribution: | SEC registered
|
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