By Cristal Cody
Tupelo, Miss., April 25 – Aviation Capital Group LLC sold $650 million of 3.875% five-year senior notes at a spread of 115 basis points over Treasuries, according to a market source.
The notes (A-/BBB) priced in line with guidance and tighter than initial price talk in the Treasuries plus 120 bps to 125 bps spread area.
Citigroup Global Markets Inc., Credit Agricole Securities (USA) Inc., Deutsche Bank Securities Inc. and RBC Capital Markets LLC were the bookrunners.
Proceeds will be used for general corporate purposes.
Aviation Capital Group, a privately held subsidiary of Pacific Life Insurance Co., is a global aircraft leasing company based in Newport Beach, Calif.
| Issuer: | Aviation Capital Group LLC
|
| Amount: | $650 million
|
| Description: | Senior notes
|
| Maturity: | May 1, 2023
|
| Bookrunners: | Citigroup Global Markets Inc., Credit Agricole Securities (USA) Inc., Deutsche Bank Securities Inc. and RBC Capital Markets LLC
|
| Coupon: | 3.875%
|
| Spread: | Treasuries plus 115 bps
|
| Trade date: | April 24
|
| Ratings: | S&P: A-
|
| Fitch: BBB
|
| Price guidance: | Treasuries plus 115 bps; initial price talk at Treasuries plus 120 bps-125 bps area
|
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