By Paul A. Harris
Portland, Ore., Sept. 24 – Aercap Holdings NV priced an $800 million issue of non-callable seven-year senior notes (Ba2/BB+) at par to yield 5% on Wednesday, according to a market source.
The yield printed on top of yield talk.
A proposed tranche of five-year notes was withdrawn, and the proceeds were shifted to the seven-year notes tranche.
J.P. Morgan Securities LLC, RBC Capital Markets and Morgan Stanley & Co. were the joint bookrunners.
The deal came with investment-grade covenants.
The Amsterdam-based aircraft leasing company plans to use the proceeds for general corporate purposes.
| Issuers: | AerCap Ireland Capital Ltd. and AerCap Global Aviation Trust
|
| Amount: | $800 million
|
| Maturity: | Oct. 1, 2021
|
| Securities: | Senior notes
|
| Bookrunners: | J.P. Morgan Securities LLC, RBC Capital Markets, Morgan Stanley & Co.
|
| Co-managers: | BofA Merrill Lynch, RBS Securities
|
| Coupon: | 5%
|
| Price: | Par
|
| Yield: | 5%
|
| Spread: | 275 bps
|
| Call protection: | Non-callable
|
| Trade date: | Sept. 24
|
| Settlement date: | Sept. 29
|
| Ratings: | Moody's: Ba2
|
| Standard & Poor's: BB+
|
| Distribution: | Rule 144A and Regulation S with registration rights
|
| Price talk: | 5% area
|
| Marketing: | Quick to market
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
