By Cristal Cody
Tupelo, Miss., July 7 – Aviation Capital Group LLC (Baa2/BBB-/BBB-) priced $1 billion of 5.5% senior notes due Dec. 15, 2024 at a spread of 545.9 basis points over Treasuries on Tuesday, according to a market source.
Initial talk was at the 6.375% area with guidance tightened to the 5.75% to 5.875% area.
Credit Agricole Securities (USA) Inc., Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, Societe Generale and Wells Fargo Securities, LLC were the bookrunners.
The company held fixed income investor calls for the in a Rule 144A and Regulation S transaction on Monday.
Aviation Capital Group, a subsidiary of Tokyo Century Corp., is a global aircraft leasing company based in Newport Beach, Calif.
| Issuer: | Aviation Capital Group LLC
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| Amount: | $1 billion
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| Description: | Senior notes
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| Maturity: | Dec. 15, 2024
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| Bookrunners: | Credit Agricole Securities (USA) Inc., Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, Societe Generale and Wells Fargo Securities, LLC
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| Coupon: | 5.5%
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| Spread: | Treasuries plus 545.9 bps
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| Trade date: | July 7
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| Ratings: | Moody’s: Baa2
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| S&P: BBB-
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| Fitch: BBB-
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| Distribution: | Rule 144A and Regulation S
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| Marketing: | Fixed income investor calls
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| Price guidance: | 5.75%-5.875% area; initial talk at 6.375% area
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