TrueNoord priced a $400 million 8.750% senior unsecured notes due 2030 through a private offering.
The net proceeds from the notes are expected to be used to partially prepay the company’s debt, primarily consisting of secured debt, with the remaining funds allocated for general corporate purposes, including the acquisition, investment, financing, or refinancing of aircraft assets.
Anne-Bart Tieleman, chief executive officer of TrueNoord, stated: “This inaugural senior unsecured note issuance marks a significant milestone in TrueNoord’s long-term strategy. The success of this issuance increases our cash flow and operational flexibility and reflects the strength of our business and the confidence of the markets.”
The Notes are rated by BB- by Fitch Ratings and B+ by S&P Global Ratings.
The notes are expected to be issued around February 13, 2025.
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