ATSG to price $150 million tap of Cargo Aircraft Management 4¾% notes in Wednesday drive-by

By Paul A. Harris

Portland, Ore., April 7 – Air Transport Services Group, Inc. plans to price a $150 million add-on to the Cargo Aircraft Management, Inc. 4¾% senior notes to Feb. 1, 2028 in a Wednesday drive-by following a conference call with investors, according to a syndicate source.

Truist is the left bookrunner. BofA Securities, Inc., J.P. Morgan Securities LLC, PNC Capital Markets LLC and Regions Securities Inc. are the joint bookrunners.

The Rule 144A and Regulation S for life notes become callable after Feb. 1, 2023 at 102.375.

The issuer, which is a wholly owned subsidiary of Air Transport Service Group, plans to use the proceeds to refinance its existing revolver and term loan A.

The original $500 million issue priced in January 2020. The Rule 144A add-on notes are to become immediately fungible with the original notes. The Regulation S add-on notes become fungible with the original notes after 40 days.

Air Transport Services Group is a Wilmington, Ohio-based aircraft leasing and air cargo transportation services provider and the largest supplier of passenger charter service to the U.S. Department of Defense.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.