Chicago, Oct. 19 – Wheels Up Experience Inc. subsidiary Wheels Up Partners LLC issued $270 million of 12% enhanced equipment trust certificates (EETC) with a seven-year tenor, according to a press release.
The notes are secured by a primary lien on Wheels Up’s 134 of the issuer’s owned aircraft.
Proceeds will be used to invest in the company’s business.
Wheels Up is a provider of on-demand private aviation. The company is based in New York.
| Issuer: | Wheels Up Partners LLC
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| Amount: | $270 million
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| Issue: | Enhanced equipment trust certificates (EETC)
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| Tenor: | Seven years
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| Trustee: | Wilmington Trust, NA
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| Coupon: | 12%
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| Settlement date: | Oct. 14
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