AerCap Prices $900M 4.875% Senior Notes Due 2031
AER•AerCap’s subsidiary priced a $900 million offering of 4.875% senior notes due 2031, unconditionally guaranteed by AerCap and certain subsidiaries. The issuer will use net proceeds for aircraft asset acquisition, financing or refinancing, and debt repayment under its automatically effective Form F-3 registration.
1. Offering Details
AerCap Funding Designated Activity Company issued $900 million of 4.875% senior notes maturing July 15, 2031, fully and unconditionally guaranteed by AerCap Holdings N.V. and select subsidiaries.
2. Use of Proceeds
Net proceeds will support general corporate purposes, including acquisition, investment in, financing or refinancing of aircraft assets, and repayment of existing indebtedness.
3. Underwriting and Registration
Barclays, BofA Securities, HSBC, MUFG and TD Securities served as joint book-running managers, and the notes offering was registered under an automatically effective Form F-3 filing.
4. Financial Impact
This issuance increases AerCap’s debt by $900 million and will extend the company’s debt maturity profile, while locking in a 4.875% coupon in the current interest rate environment.
