By Paul A. Harris
Portland, Ore., May 17 - AerCap Aviation Solutions BV priced a $300 million issue of non-callable five-year senior notes (/BB+/BBB-) at par to yield 6 3/8% on Thursday, according to a syndicate source.
The yield printed in the middle of the 6¼% to 6½% yield talk.
Citigroup Global Markets Inc. was the left bookrunner. UBS Investment Bank was the joint bookrunner.
KKR Capital Markets and Credit Agricole CIB were the co-managers.
The Amsterdam-based integrated aviation company plans to use the proceeds to acquire, invest in, finance or refinance aircraft assets and for other general corporate purposes, which will include the repayment of the company's E note facilities.
| Issuer: | AerCap Aviation Solutions BV
|
| Amount: | $300 million
|
| Maturity: | May 30, 2017
|
| Securities: | Senior notes
|
| Left bookrunner: | Citigroup Global Markets Inc.
|
| Joint bookrunner: | UBS Investment Bank
|
| Co-managers: | KKR Capital Markets, Credit Agricole CIB
|
| Coupon: | 6 3/8%
|
| Price: | Par
|
| Yield: | 6 3/8%
|
| Spread: | 563 bps
|
| Call protection: | Non-callable
|
| Make-whole: | Treasuries plus 50 bps
|
| Change-of-control put: | 101%
|
| Trade date: | May 17
|
| Settlement date: | May 22
|
| Ratings: | Standard & Poor's: BB+
|
| Fitch: BBB-
|
| Distribution: | Rule 144A and Regulation with registration rights
|
| Price talk: | 6¼% to 6½%
|
| Marketing: | Roadshow
|
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