Ryanair has closed its inaugural Euro currency, floating rate Eximbond via King International Leasing. The €155, 745 million bond, which priced on July 12 at three-month EURIBOR + 70 basis points. The bond matures on January 20, 2023.
Bookrunners on the deal were Credit Agricole-Corporate Investment Bank and Goldman Sachs. Ryanair intends to use the proceeds to refinance a portion of the purchase price of the beneficial interest in eight Boeing 737-800 aircraft that delivered in February and March this year.
Jose Abramovici, global head aviation group & rail finance at Credit Agricole – CIB says: "We are pleased with this inaugural product which follows previous innovative initiatives by CA-CIB and GS which have already arranged jointly 1/ the first USD Eximbond for Emirates and 2/ the first ECGD bond for AerCap. Now the Ryanair bond is the first ever Euro-currency Eximbond arranged by CA-CIB and GS. It provides our client with a cost saving and a diversification of funding.