Published on 6/5/2018 in the Prospect News Investment Grade Daily.
New Issue: AerCap prices $600 million of 4.125% five-year guaranteed notes at 142 bps spread
By Cristal Cody
Tupelo, Miss., June 5 – AerCap Ireland Capital DAC and AerCap Global Aviation Trust sold $600 million of 4.125% five-year guaranteed senior notes (Baa3/BBB-/BBB-) on Tuesday at 99.749 to yield 4.18%, according to an FWP filing with the Securities and Exchange Commission.
The notes priced at a spread of Treasuries plus 142 basis points.
Citigroup Global Markets Inc., Credit Agricole Securities (USA) Inc., Morgan Stanley & Co. LLC, SunTrust Robinson Humphrey Inc., BofA Merrill Lynch, Barclays, BNP Paribas Securities Corp., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Goldman Sachs & Co., HSBC Securities (USA) Inc., J.P. Morgan Securities LLC, Mizuho Securities USA Inc., MUFG, RBC Capital Markets Corp., Santander Investment Securities Inc., TD Securities (USA) LLC and Wells Fargo Securities LLC were the bookrunners.
The notes are guaranteed by AerCap Holdings NV.
Proceeds will be used for general corporate purposes, including to acquire, finance or refinance aircraft assets and to repay debt.
AerCap is an independent aircraft leasing company based in Amsterdam.
| Issuers: | AerCap Ireland Capital DAC/AerCap Global Aviation Trust
|
| Guarantor: | AerCap Holdings NV
|
| Amount: | $600 million
|
| Maturity: | July 3, 2023
|
| Description: | Senior notes
|
| Bookrunners: | Citigroup Global Markets Inc., Credit Agricole Securities (USA) Inc., Morgan Stanley & Co. LLC, SunTrust Robinson Humphrey Inc., BofA Merrill Lynch, Barclays, BNP Paribas Securities Corp., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Goldman Sachs & Co., HSBC Securities (USA) Inc., J.P. Morgan Securities LLC, Mizuho Securities USA Inc., MUFG, RBC Capital Markets Corp., Santander Investment Securities Inc., TD Securities (USA) LLC and Wells Fargo Securities LLC
|
| Co-managers: | Citizens Capital Markets, Inc., Fifth Third Securities Inc. and Societe Generale CIB
|
| Coupon: | 4.125%
|
| Price: | 99.749
|
| Yield: | 4.18%
|
| Spread: | Treasuries plus 142 bps
|
| Call features: | Make-whole call at Treasuries plus 25 bps before June 2, 2023; thereafter at par
|
| Trade date: | June 5
|
| Settlement date: | June 12
|
| Ratings: | Moody’s: Baa3
|
| S&P: BBB-
|
| Fitch: BBB-
|
| Distribution: | SEC registered
|
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