AAR to price $500 million five-year senior notes on Thursday; whisper for yield of 7%-7¼%

By Abigail W. Adams

Portland, Me., Feb. 14 – AAR Corp. plans to price $500 million of AAR Escrow Issuer LLC five-year senior notes on Thursday with early guidance for a yield of 7% to 7¼%, according to a market source.

The notes are non-callable for two years.

There will be an investor call at 10:30 a.m. ET on Wednesday.

Wells Fargo Securities LLC is lead left bookrunner for the Rule 144A and Regulation S offering.

BofA Securities Inc., CIBC World Markets Corp., PNC Capital Markets LLC and Truist Securities Inc. are also bookrunners.

Proceeds will be used to fund a portion of the company’s acquisition of the Triumph Group’s Product Support business.

AAR is a Wood Dale, Ill.-based private provider of aviation services.

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