By Aleesia Forni
Virginia Beach, Sept. 14 – Aviation Capital Group Corp. priced $900 million of senior notes (/BBB-/BBB-) in two parts on Monday, a market source said.
A $600 million 2.875% three-year note sold at 99.553 to yield 3.032%, or 212.5 basis points spread over Treasuries.
Price talk was in the Treasuries plus 212.5 bps area.
Also, $300 million of 4.875% 10-year notes sold at Treasuries plus 275 bps. Pricing was at 99.597 to yield 4.926%.
The issue sold in line with talk set in the Treasuries plus 275 bps area.
Credit Agricole, Credit Suisse Securities, Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, Mizuho Securities, BNP Paribas Securities Corp., Citigroup Global Markets Inc., Goldman Sachs & Co., MUFG, RBC Capital Markets LLC and Wells Fargo Securities LLC were the bookrunners.
The Newport Beach, Calif.-based provider of aircraft operating leases plans to use the proceeds for general corporate purposes.
| Issuer: | Aviation Capital Group Corp.
|
| Issue: | Senior notes
|
| Amount: | $900 million
|
| Bookrunners: | Credit Agricole, Credit Suisse Securities, Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, Mizuho Securities, BNP Paribas Securities Corp., Citigroup Global Markets Inc., Goldman Sachs & Co., MUFG, RBC Capital Markets LLC, Wells Fargo Securities LLC
|
| Trade date: | Sept. 14
|
| Settlement date: | Sept. 17
|
| Ratings: | Standard & Poor’s: BBB-
|
| Fitch: BBB-
|
| Distribution: | Rule 144A, Regulation S
|
|
|
| Three-year notes
|
| Amount: | $600 million
|
| Maturity: | Sept. 17, 2018
|
| Coupon: | 2.875%
|
| Price: | 99.553
|
| Yield: | 3.032%
|
| Spread: | Treasuries plus 200 bps
|
| Price guidance: | Treasuries plus 212.5 bps area
|
|
|
| 10-year notes
|
| Amount: | $300 million
|
| Maturity: | Oct. 1, 2025
|
| Coupon: | 4.875%
|
| Price: | 99.597
|
| Yield: | 4.926%
|
| Spread: | Treasuries plus 275 bps
|
| Price guidance: | Treasuries plus 275 bps area
|
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