By Cristal Cody
Tupelo, Miss., Sept. 20 – Aircastle Ltd. priced an upsized $650 million of 4.4% five-year senior notes (Baa3/BBB-/BBB-) on Thursday at a spread of 148 basis points over Treasuries, according to an FWP filing with the Securities and Exchange Commission.
The notes priced at 99.831 to yield 4.438%.
The deal was upsized from $500 million.
Goldman Sachs & Co. LLC, Citigroup Global Markets Inc., MUFG and RBC Capital Markets, LLC were the bookrunners.
Proceeds will be used for general corporate purposes, which may include the acquisition of aircraft or debt refinancing.
Stamford, Conn.-based Aircastle acquires, leases and sells commercial jet aircraft to airlines.
| Issuer: | Aircastle Ltd.
|
| Amount: | $650 million
|
| Description: | Senior notes
|
| Maturity: | Sept. 25, 2023
|
| Bookrunners: | Goldman Sachs & Co. LLC, Citigroup Global Markets Inc., MUFG and RBC Capital Markets, LLC
|
| Coupon: | 4.4%
|
| Price: | 99.831
|
| Yield: | 4.438%
|
| Spread: | Treasuries plus 148 bps
|
| Call features: | Make-whole call before Aug. 25, 2023 at price equal to greater of par and Treasuries plus 25 bps; thereafter at par
|
| Trade date: | Sept. 20
|
| Settlement date: | Sept. 25
|
| Ratings: | Moody’s: Baa3
|
| S&P: BBB-
|
| Fitch: BBB-
|
| Distribution: | SEC registered
|
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