NAC Aviation 29 has commenced an offer to purchase an amount up to the Tender Cap of its 4.75% Senior Secured Notes due June 30, 2026 at a purchase price per $1,000.
The maximum aggregate amount (at face value) of NAC 29 debt to be purchased by the company pursuant is $80 million (the ‘Tender Cap’). The accepted bid price range is $875.00 to $905.00 per $1,000.00 principal amount of NAC 29 debt.
The notes offer is scheduled to expire at 5:00 p.m., New York City time, on August 22, 2023, unless extended or earlier terminated.
Concurrently, the company is seeking to purchase loans under its term loan B (TLB) credit agreement dated June 1, 2022. Wilmington Trust (London) is acting as agent for the lenders.
Settlement of any notes that have been validly tendered and accepted for purchase is expected to occur on the third business day following the Expiration Time. The same timeline is also applicable with respect to TLB lenders wishing to participate in the TLB offer.
NAC29 has engaged Deutsche Bank to act as the dealer manager in connection with the notes offer and as purchase agent in connection with the TLB offer.