Aircastle to price $300 million eight-year senior notes on Tuesday

By Paul A. Harris

St. Louis, July 26 - Aircastle Ltd. held an investor conference call on Monday for its $300 million offering of eight-year senior notes, according to an informed source.

Pricing is set for Tuesday.

Citigroup Global Markets Inc. has the books for the Rule 144A and Regulation S with registration rights offering. BNP Paribas Securities Corp., Credit Suisse, DVB Capital Markets and Credit Agricole CIB are the co-managers.

The notes are expected to receive double B equivalent ratings from Moody's Investors Service and Standard & Poor's.

The notes are expected to have four years of call protection and will have an incurrence-based high-yield covenant package.

Proceeds will be used to repay debt and for general corporate purposes, including the purchase of aviation assets.

Aircastle is a Stamford, Conn.-based firm which leases and sells commercial jet aircraft to passenger and cargo airlines.

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