By Cristal Cody
Eureka Springs, Ark., Jan. 12 – Aviation Capital Group Corp. priced $1 billion of 2.875% five-year senior notes on Thursday at a spread of 115 basis points over Treasuries, according to a market source.
The notes due Jan. 20, 2022 (/A/BBB) priced on the tight side of guidance for a spread of 120 bps over Treasuries, plus or minus 5 bps.
BNP Paribas Securities Corp., Citigroup Global Markets Inc., Goldman Sachs & Co. and RBC Capital Markets LLC were the active bookrunners.
Proceeds will be used for general corporate purposes.
Aviation Capital Group, a privately-held subsidiary of Pacific Life Insurance Co., is a global aircraft leasing company based in Newport Beach, Calif.
| Issuer: | Aviation Capital Group Corp.
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| Amount: | $1 billion
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| Description: | Senior notes
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| Maturity: | Jan. 20, 2022
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| Bookrunners: | BNP Paribas Securities Corp., Citigroup Global Markets Inc., Goldman Sachs & Co. and RBC Capital Markets LLC
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| Coupon: | 2.875%
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| Spread: | Treasuries plus 115 bps
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| Trade date: | Jan. 12
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| Price guidance: | Treasuries plus 120 bps area, plus or minus 5 bps
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| Ratings: | S&P: A-
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| Fitch: BBB
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