AerCap launches $2.6 billion notes in three bullet tranches, to fund ILFC acquisition

By Paul A. Harris

Portland, Ore., May 6 - AerCap Ireland Capital Ltd. and AerCap Global Aviation Trust kicked off a $2.6 billion three-part offering of non-callable senior notes on Tuesday, according to a syndicate source.

A New York lunch and an investor call are both set to get underway at noon ET on Wednesday. A Boston lunch follows at noon ET on Thursday.

The deal is set to price thereafter.

The Rule 144A and Regulation S with registration rights deal is coming in tranches of notes maturing in three years, five years and seven years.

Joint physical bookrunner UBS Investment Bank will bill and deliver. Citigroup is also a joint physical bookrunner.

Barclays, BofA Merrill Lynch, Credit Agricole CIB, Credit Suisse, Deutsche Bank Securities Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC, Morgan Stanley & Co., RBC Capital Markets and RBS Securities Inc. are joint bookrunners.

Guggenheim and KKR Capital Markets are co-managers.

The issuers are subsidiaries of Amsterdam-based aircraft leasing company AerCap Holdings NV. Proceeds will be used to help fund the acquisition of 100% of the common stock of International Lease Finance Corp. from American International Group Inc.

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