StandardAero talks $485 million eight-year notes at a discount to yield 10¼%; pricing Tuesday

By Paul A. Harris

Portland, Ore., June 30 – DAE Aviation Holdings, Inc., the indirect parent of StandardAero, talked its $485 million offering of eight-year senior notes (Caa2/CCC) to price at a discount of about 1.5 points and to yield 10¼% on Tuesday, according to a syndicate source.

Books close at 2 p.m. ET on Tuesday, and the deal is set to price shortly thereafter.

Jefferies LLC is the left bookrunner for the Rule 144A and Regulation S for life offering. KKR Capital Markets and MCS Capital Markets are joint bookrunners.

The notes come with three years of call protection.

Proceeds will be used to help fund the buyout of StandardAero by Veritas Capital from Dubai Aerospace Enterprise Ltd.

StandardAero is a Scottsdale, Ariz.-based provider of aircraft engine maintenance, repair and overhaul services.

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