AerCap-GECAS deal inches closer to closing as AerCap enters the market with a series of fixed income offerings to finance the transaction. AerCap is holding a series of investor calls today and tomorrow.
AerCap Ireland Capital DAC / AerCap Global Aviation Trust (rated Baa3 / BBB / BBB- by Moody’s, S&P and Fitch, respectively) are offering a US dollar SEC Registered two-20 year multi-tranche offering, which may be followed by a potential euro-denominated RegS offering with four- and/or six-year tenors. The debt will be guaranteed by AerCap Holdings.
The proceeds of the potential transaction will be directed towards financing the cash consideration of the GECAS transaction with any excess proceeds used for general corporate purposes.
Citi and Goldman Sachs are acting as joint global coordinators and are also joint bookrunners with: BoA, Barclays, Credit Agricole-CIB, Deutsche Bank, JPMorgan, Mizuho, Morgan Stanley, RBC, Santander, BNP Paribas, Credit Suisse, HSBC, TD, Truist, Wells Fargo, MUFG, Société Générale and Fifth Third.