Published on 5/17/2016 in the Prospect News High Yield Daily and Prospect News Investment Grade Daily.
New Issue: AerCap prices $1 billion 3.95% notes due February 2022 at 270 bps over Treasuries
By Cristal Cody
Eureka Springs, Ark., May 17 – AerCap Ireland Capital Ltd. and AerCap Global Aviation Trust sold $1 billion of 3.95% senior notes (Ba1/BBB-/BB+) due Feb. 1, 2022 at 99.813 to yield 3.988% on Tuesday, according to an FWP filing with the Securities and Exchange Commission.
The notes priced with a spread of 270 basis points over Treasuries.
The bookrunners were Barclays, Mizuho Securities USA Inc., RBC Capital Markets Corp., Wells Fargo Securities LLC, BNP Paribas Securities Corp., Citigroup Global Markets Inc., Credit Agricole (USA) Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Fifth Third Securities, Inc., Goldman Sachs & Co., HSBC Securities (USA) Inc., J.P. Morgan Securities LLC, BofA Merrill Lynch, Morgan Stanley & Co. LLC and SunTrust Robinson Humphrey, Inc.
The notes are guaranteed by AerCap Holdings NV.
Proceeds will be used for general corporate purposes.
AerCap is an independent aircraft leasing company based in Amsterdam.
| Issuers: | AerCap Ireland Capital Ltd. and AerCap Global Aviation Trust
|
| Guarantor: | AerCap Holdings NV
|
| Amount: | $1 billion
|
| Maturity: | Feb. 1, 2022
|
| Securities: | Senior notes
|
| Bookrunners: | Barclays, Mizuho Securities USA Inc., RBC Capital Markets Corp., Wells Fargo Securities LLC, BNP Paribas Securities Corp., Citigroup Global Markets Inc., Credit Agricole (USA) Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Fifth Third Securities, Inc., Goldman Sachs & Co., HSBC Securities (USA) Inc., J.P. Morgan Securities LLC, BofA Merrill Lynch, Morgan Stanley & Co. LLC, SunTrust Robinson Humphrey, Inc.
|
| Co-managers: | ING Financial Markets LLC, Scotia Capital (USA) Inc.
|
| Coupon: | 3.95%
|
| Price: | 99.813
|
| Yield: | 3.988%
|
| Spread: | Treasuries plus 270 bps
|
| Call feature: | Make-whole call before Jan. 1, 2022 at Treasuries plus 45 bps; on or after Jan. 1, 2022 at par
|
| Pricing date: | May 17
|
| Settlement date: | May 23
|
| Ratings: | Moody’s: Baa1
|
| S&P: BBB-
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| Fitch: BB+
|
| Distribution: | SEC registered
|
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