AWAS talks $600 million split-rated six-year notes with 6¾%-7% yield

By Paul A. Harris

St. Louis, Sept. 30 - AWAS Aviation Capital Ltd. talked its split-rated $600 million offering of six-year senior secured notes (Ba2/BBB-) with a 6¾% to 7% yield, an informed source said on Thursday.

The books close at 10 a.m. ET on Friday, and the notes are expected to price thereafter.

Goldman Sachs is the left active bookrunner for the Rule 144A and Regulation S with registration rights offering. Morgan Stanley is the joint active bookrunner. Deutsche Bank Securities is a passive bookrunner. Credit Agricole CIB is the co-manager.

The notes come with three years of call protection.

The Dublin, Ireland-based aircraft leasing company will use the proceeds to repay debt, to finance the purchase of new aircraft and for general corporate purposes.

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