Aviation Capital Group (ACG) stated (25-Jan-2011) its portfolio activity in 2010 consisted of 66 lease and sale transactions during the year and 14 aircraft purchases (including orders). In addition, during 2010 ACG successfully raised more than USD1 billion of senior unsecured debt. ACG followed its Apr-2010 private placement issuance of USD255 million in Unsecured Medium Term Notes with USD600 million in Senior Unsecured Notes issued in the capital markets. In Dec-2010 ACG launched its operational office in Singapore where it has already transferred 15 aircraft and plans to grow its portfolio and staff. [more]
ACG: “Singapore already has a robust aviation sector and provides ACG with a pro-business regulatory environment, attractive tax rates, and a highly educated workforce. Increasing our presence in Asia is essential to our goals of expanding our portfolio and our ability to provide timely and region specific services to our customers. A key element of ACG’s financial philosophy is the strategic decision to shift from secured financings, such as aircraft-backed securitisations and secured warehouse bank debt, to corporate unsecured borrowings. Shifting to unsecured borrowings allows us to improve financial flexibility and have substantially greater flexibility in deploying our aircraft, which better serves our customers,” R. Stephen Hannahs, Group MD and CEO. Source: Company Statement, 25-Jan-2011.