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Macquarie AirFinance talks $500 million five-year notes at 8½%-8¾%; pricing Tuesday
By Paul A. Harris
Portland, Ore., April 11 – Macquarie AirFinance Holdings Ltd. talked its $500 million offering of senior notes due 2028 (/BB+/BB) to yield 8½% to 8¾%, according to market sources.
Official talk comes tight to initial guidance of 8¾% to 9%.
Books close early Tuesday afternoon, and the Rule 144A and Regulation S notes offering is set to price thereafter.
The deal is heard to be playing to $1.2 billion of orders, a trader said.
The five-year notes come with two years of call protection.
JPMorgan, Citigroup and Mizuho are the joint active bookrunners.
The Dublin-based aircraft lessor plans to use the proceeds to prepay a portion of its term loan and to repay a portion of its revolver.
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