SMBC Aviation Capital's wholly owned subsidiary SMBC Aviation Capital Finance DAC has closed the sale of $1.5bn five- and 10-year senior unsecured notes at a principal amount of 5.30% and 5.55% respectively. The notes are fully and unconditionally guaranteed by SMBC Aviation Capital.
""The size of the offering reflects the increased scale of our balance sheet which has more than doubled in size since 2020 thanks to the significant level of well-timed growth executed during this strategic point in the cycle,"" said SMBC Aviation Capital chief financial officer Aisling Kenny. ""Our ability to access long-term debt at competitive pricing, together with the backing of our shareholders, will support our ability to further capitalise on the opportunities that will be presented by this strong market backdrop.""
The bond placement – priced at US Treasuries plus 108 and 135 basis points for the five and ten year tranches respectively – represents SMBC Aviation Capital’s first dual tranche offering. It is the company’s ninth successful bond offering following its debut capital markets issuance in July 2016.
SMBC Aviation closes $1.5bn senior unsecured bond offering
