AerCap has announced a price to the public of $58.50 per ordinary share under its secondary offering of 23 million of its ordinary shares by seller GE Capital US Holdings, a subsidiary of General Electric (GE).
"The secondary offering was upsized from the previously announced secondary offering of 18 million ordinary shares. In addition, the selling Shareholder has granted to the underwriters a 30-day option to purchase up to 3,450,000 additional ordinary shares from the selling Shareholder," AerCap said in a statement announcing the pricing details.
The Dublin-based lessor said would not receive any proceeds from the sale of the ordinary shares but will repurchase $500 million of its ordinary shares from GE Capital, at a price per ordinary share of $56.89.
Goldman Sachs, Citigroup, Morgan Stanley, BNP Paribas, Credit Agricole CIB, Evercore ISI, HSBC, SMBC Nikko and Societe Generale are acting as joint book-running managers for the secondary offering. Academy Securities, R. Seelaus and Siebert Williams Shank are acting as co-managers.