Griffin Global Asset Management unit whispers $1 billion two-part offering of notes

By Abigail W. Adams

Portland, Me., May 23 – GGAM Finance Ltd., an aircraft leasing company formed by Griffin Global Asset Management, started a roadshow on Monday for a $1 billion offering of three-year and five-year senior bullet notes, according to a market source.

Early guidance for the five-year notes is in the high 7% to 8% area with the three-year notes guided as 25 basis points tighter.

The roadshow for the Rule 144A and Regulation S offering is scheduled to run through Wednesday with pricing expected during the May 22 week.

BofA Securities Inc. will bill & deliver for the five-year notes.

Morgan Stanley & Co. LLC and BofA Securities will bill & deliver for the three-year notes.

Goldman Sachs & Co. LLC is joint lead bookrunner for both tranches.

Barclays, BMO Capital Markets Corp., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Mizuho Securities USA Inc., PNC Capital Markets LLC, SMBC Nikko Securities America Inc. and SG Americas Securities LLC are joint bookrunners.

Proceeds will be used to repay a portion of the company’s warehouse facility and for general corporate purposes.

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