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Published on 3/27/2019 in the Prospect News Investment Grade Daily.

AerCap plans add-on to 4.875% notes due 2024, new senior notes

Chicago, March 27 – AerCap Holdings NV will sell an add-on to its 4.875% senior notes due Jan. 16, 2024 and a tranche of new senior fixed-rate notes, according to a 424B3 filing with the Securities and Exchange Commission.

The notes will be sold via AerCap Ireland Capital DAC and AerCap Global Aviation Trust and will be guaranteed by AerCap Holdings.

The add-on tranche will form a single series with the $400 million outstanding 4.875% senior notes, which priced on Jan. 9, 2019 at 99.833 to yield 4.913%, or 235 basis points over Treasuries.

The add-on notes have a make-whole call and are then redeemable at par.

The bookrunners are BofA Merrill Lynch, Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, SunTrust Robinson Humphrey Inc. and Wells Fargo Securities LLC.

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.


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