AerCap sets price talk in $2.6 billion three-part bullet deal; books close early Thursday afternoon

By Paul A. Harris

Portland, Ore., May 8 - AerCap Ireland Capital Ltd. and AerCap Global Aviation Trust set price talk for their $2.6 billion three-part offering of non-callable senior notes (Ba2/BB+/BB+), a syndicate source said on Thursday.

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.

The three-year notes are talked to yield 2¾% to 3%.

The five-year notes are talked to yield 3¾% to 4%.

The seven-year notes are talked to yield 4½% to 4¾%.

Books close at 1 p.m. ET on Thursday.

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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