Aircastle sets price talk for $800 million two-part offering of notes

By Paul A. Harris

Portland, Ore., March 29 - Aircastle Ltd. set price talk for an $800 million two-part offering of senior notes (Ba3) on Thursday, according to market sources.

The notes maturing in 2017 are talked with a yield in the 6¾% area, and the notes maturing in 2020 are talked with a yield in the 7¾% area.

Tranche sizes remain to be determined.

The deal is set to price on Friday.

Goldman Sachs & Co., Citigroup Global Markets Inc. and J.P. Morgan Securities LLC are the joint bookrunners for the Rule 144A and Regulation S offering.

Credit Agricole CIB, Deutsche Bank Securities, Jefferies & Co., RBC Capital Markets and Wells Fargo Securities LLC are the co-managers.

Proceeds will be used to repay bank debt, with any remaining proceeds to be used for general corporate purposes, including the purchase of aviation assets.

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

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