The offering comprises $400 million of 8% senior unsecured notes due 2027. The notes will be guaranteed by Griffin Global Asset Management and certain of its subsidiaries. Proceeds from the issuance will be used to finance the acquisition of new aircraft deliveries.
“We are very pleased to announce the closing of our latest $400 million unsecured notes offering," said John Beekman, Griffin CFO. "We are grateful for the support from our investors as the Griffin platform continues to expand. Griffin has raised nearly $2.0 billion of unsecured capital in 2023, comprised of our $1.0 billion unsecured notes in June, a $525 million unsecured revolving credit facility in August, and this $400 million unsecured notes offering. We remain committed to funding our best-in-class aircraft portfolio with predominately unsecured capital as we work towards achieving investment grade ratings."