AerCap closes USD151m notes issuance for two A330s
AerCap Holdings closed (29-Jun-2010) its first notes issuance guaranteed by the Export Credits Guarantee Department (ECGD), the Export Credit Agency of the UK. The notes have been issued at a fixed rate of 3.795%, maturing in 2021, and an initial principal amount of USD151 million. The transaction completes the refinancing of two A330-300 aircraft, which were delivered to AerCap in 4Q2009 and are all on long-term leases. [more]
AerCap: "We are very proud to launch the first ever notes issuance for Airbus aircraft guaranteed by ECGD. This transaction provides lower cost funding for AerCap and establishes another new source of capital following the closing of new credit facilities with Chinese and Singaporean banks and a facility for general corporate purposes. This transaction continues to demonstrate our resourcefulness in accessing diversified sources of capital," Paul Rofe, Group Treasurer. Source: AerCap, 29-Jun-2010.