New Issue: Aircastle prices $650 million of 5.25% five-year notes at 525 bps over Treasuries

By Cristal Cody

Tupelo, Miss., Aug. 5 – Aircastle Ltd. sold $650 million of 5.25% five-year senior notes (Baa3/BBB-/BBB) on Wednesday at a spread of Treasuries plus 525 basis points, according to an informed source.

Initial price talk was in the Treasuries plus 575 bps area.

Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, MUFG and RBC Capital Markets, LLC were the bookrunners.

Stamford, Conn.-based Aircastle acquires, leases and sells commercial jet aircraft to airlines.

Issuer:	Aircastle Ltd.
Amount:	$650 million
Description:	Senior notes
Maturity:	Aug. 11, 2025
Bookrunners:	Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, MUFG and RBC Capital Markets, LLC
Coupon:	5.25%
Spread:	Treasuries plus 525 bps
Trade date:	Aug. 5
Ratings:	Moody’s: Baa3
	S&P: BBB-
	Fitch: BBB
Price guidance:	Treasuries plus 575 bps area

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