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AerCap Holdings N.V. Announces Pricing of $2.4 Billion Aggregate Principal Amount of Senior Notes

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AerCap Holdings N.V. (AER) has announced the pricing of $2.4 billion in senior notes through its subsidiaries. The offering consists of $1.3 billion in 4.625% Senior Notes due 2029 and $1.1 billion in 4.950% Senior Notes due 2034. These notes will be fully guaranteed by AerCap and certain subsidiaries. The net proceeds will be used for general corporate purposes, including aircraft asset acquisition, investment, financing, and debt repayment.

The offering is being managed by several prominent financial institutions. AerCap has filed a registration statement with the SEC, which became effective on October 19, 2021. Investors are advised to review the prospectus and related documents for complete information about the company and the offering.

AerCap Holdings N.V. (AER) ha annunciato la determinazione del prezzo di 2,4 miliardi di dollari in obbligazioni senior attraverso le sue filiali. L'offerta consiste in 1,3 miliardi di dollari in Obbligazioni Senior al 4,625% con scadenza nel 2029 e 1,1 miliardi di dollari in Obbligazioni Senior al 4,950% con scadenza nel 2034. Queste obbligazioni saranno completamente garantite da AerCap e da alcune filiali. I proventi netti saranno utilizzati per scopi aziendali generali, compresa l'acquisizione di beni aeronautici, investimenti, finanziamenti e rimborso del debito.

L'offerta è gestita da diverse importanti istituzioni finanziarie. AerCap ha presentato una dichiarazione di registrazione con la SEC, divenuta efficace il 19 ottobre 2021. Si consiglia agli investitori di esaminare il prospetto e i documenti correlati per informazioni complete sulla società e sull'offerta.

AerCap Holdings N.V. (AER) ha anunciado el precio de 2.4 mil millones de dólares en notas senior a través de sus subsidiarias. La oferta consiste en 1.3 mil millones de dólares en Notas Senior al 4.625% que vencen en 2029 y 1.1 mil millones de dólares en Notas Senior al 4.950% que vencen en 2034. Estas notas estarán completamente garantizadas por AerCap y ciertas subsidiarias. Los ingresos netos se utilizarán para fines corporativos generales, incluyendo la adquisición de activos de aeronaves, inversión, financiamiento y pago de deudas.

La oferta está siendo gestionada por varias instituciones financieras prominentes. AerCap ha presentado una declaración de registro ante la SEC, que se hizo efectiva el 19 de octubre de 2021. Se aconseja a los inversores revisar el prospecto y los documentos relacionados para obtener información completa sobre la empresa y la oferta.

AerCap Holdings N.V. (AER)는 자회사를 통해 24억 달러의 선순위 노트 가격을 발표했습니다. 이번 공모는 13억 달러의 4.625% 선순위 노트(2029년 만기)와 11억 달러의 4.950% 선순위 노트(2034년 만기)로 구성됩니다. 이 노트들은 AerCap와 특정 자회사에 의해 완전히 보증됩니다. 순수익은 항공기 자산 인수, 투자, 금융 및 부채 상환을 포함한 일반 기업 용도에 사용될 것입니다.

이번 공모는 여러 저명한 금융 기관에 의해 관리되고 있습니다. AerCap는 SEC에 등록 신고서를 제출했으며, 이는 2021년 10월 19일에 효력이 발생했습니다. 투자자들은 회사 및 공모에 관한 완전한 정보를 얻기 위해 설명서와 관련 문서를 검토해야 합니다.

AerCap Holdings N.V. (AER) a annoncé la tarification de 2,4 milliards de dollars en obligations senior à travers ses filiales. L'offre se compose de 1,3 milliard de dollars en Obligations Senior à 4,625% arrivant à échéance en 2029 et 1,1 milliard de dollars en Obligations Senior à 4,950% arrivant à échéance en 2034. Ces obligations seront entièrement garanties par AerCap et certaines filiales. Les produits nets seront utilisés à des fins corporatives générales, y compris l'acquisition d'actifs aéronautiques, l'investissement, le financement et le remboursement de dettes.

L'offre est gérée par plusieurs institutions financières de premier plan. AerCap a déposé une déclaration d'enregistrement auprès de la SEC, qui est entrée en vigueur le 19 octobre 2021. Les investisseurs sont conseillés de consulter le prospectus et les documents connexes pour obtenir des informations complètes sur l'entreprise et l'offre.

AerCap Holdings N.V. (AER) hat die Preisung von 2,4 Milliarden Dollar an vorrangigen Anleihen über ihre Tochtergesellschaften bekannt gegeben. Das Angebot besteht aus 1,3 Milliarden Dollar an 4,625% Senior Notes mit Fälligkeit 2029 und 1,1 Milliarden Dollar an 4,950% Senior Notes mit Fälligkeit 2034. Diese Anleihen werden vollständig von AerCap und bestimmten Tochtergesellschaften garantiert. Die Nettomittel werden für allgemeine Unternehmenszwecke, einschließlich der Akquisition von Flugzeugvermögen, Investitionen, Finanzierung und Schuldenrückzahlung, verwendet.

Das Angebot wird von mehreren prominente Finanzinstituten verwaltet. AerCap hat eine Registrierungserklärung bei der SEC eingereicht, die am 19. Oktober 2021 wirksam wurde. Investoren wird geraten, den Prospekt und die zugehörigen Dokumente zu überprüfen, um vollständige Informationen über das Unternehmen und das Angebot zu erhalten.

Positive
  • Successful pricing of $2.4 billion in senior notes
  • Proceeds to be used for strategic purposes including aircraft asset acquisition and debt repayment
  • Strong backing from major financial institutions as joint book-running managers
Negative
  • Increase in long-term debt obligations
  • Potential impact on financial leverage and interest expenses

Insights

AerCap's $2.4 billion senior notes offering demonstrates strong market confidence in the company's creditworthiness. The 4.625% yield for 2029 notes and 4.950% for 2034 notes are relatively competitive in the current interest rate environment, indicating investor appetite for AerCap's debt. This capital raise provides AerCap with significant financial flexibility for aircraft acquisitions and debt refinancing, potentially improving their cost of capital.

The company's ability to secure funding through various top-tier financial institutions underscores its robust financial position in the aviation leasing sector. However, investors should monitor how effectively AerCap deploys this capital, as the success of aircraft investments will be important in generating returns to cover these new interest expenses.

This substantial debt issuance by AerCap, the world's largest aircraft leasing company, signals confidence in the aviation industry's recovery. The company's plan to use proceeds for aircraft acquisitions suggests anticipation of growing demand for leased aircraft as airlines seek flexible fleet solutions post-pandemic. This move could strengthen AerCap's market position and potentially increase its bargaining power with both aircraft manufacturers and airlines.

However, the increased debt load also raises the company's exposure to interest rate fluctuations and aviation market volatility. Investors should closely watch AerCap's debt-to-equity ratio and its ability to maintain a balanced portfolio of aircraft assets to mitigate risks associated with this significant capital raise.

DUBLIN, Sept. 3, 2024 /PRNewswire/ -- AerCap Ireland Capital Designated Activity Company and AerCap Global Aviation Trust (together, the "Issuers"), each a wholly-owned subsidiary of AerCap Holdings N.V. ("AerCap" or the "Company"), priced an offering of senior notes, consisting of $1,300 million aggregate principal amount of the Issuers' 4.625% Senior Notes due 2029 (the "2029 Notes") and $1,100 million aggregate principal amount of the Issuers' 4.950% Senior Notes due 2034 (the "2034 Notes" and, together with the 2029 Notes, the "Notes"). The Notes will be fully and unconditionally guaranteed on a senior unsecured basis by the Company and certain other subsidiaries of the Company.

The Issuers intend to use the net proceeds from the Notes for general corporate purposes, including to acquire, invest in, finance or refinance aircraft assets and to repay indebtedness.

RBC Capital Markets, Wells Fargo Securities, BofA Securities, HSBC, Fifth Third Securities and SOCIETE GENERALE are serving as joint book-running managers for the underwritten public offering.

The Company has filed a registration statement (including a prospectus) on Form F-3 with the U.S. Securities and Exchange Commission (the "SEC") for the underwritten offering to which this communication relates. The registration statement automatically became effective upon filing on October 19, 2021. Investors should read the accompanying prospectus dated October 19, 2021, the preliminary prospectus supplement relating to the offering dated September 3, 2024, and other documents the Company has filed with the SEC for more complete information about the Company and this offering.

These documents may be obtained for free by visiting EDGAR on the SEC's website at www.sec.gov. The prospectus supplement and accompanying prospectus relating to this offering may also be obtained from: RBC Capital Markets, LLC, Attn: Syndicate Operations, 200 Vesey Street, 8th Floor, New York, NY 10281, by telephone at 1-866-375-6829 or by email at rbcnyfixedincomeprospectus@rbccm.com; Wells Fargo Securities, LLC, 608 2nd Avenue South, Suite 1000, Minneapolis, MN 55402, Attn: WFS Customer Service, by telephone at 1-800-645-3751 or by email at wfscustomerservice@wellsfargo.com; BofA Securities, Inc., NC1-022-02-25, 201 North Tryon Street, Charlotte, North Carolina 28255, Attn: Prospectus Department, by telephone at 1-800-294-1322 or by email at dg.prospectus_requests@bofa.com; HSBC Securities (USA) Inc., 66 Hudson Boulevard, New York, New York 10001, by telephone at 1-866-811-8049; Fifth Third Securities, Inc., 38 Fountain Square Plaza, Cincinnati, Ohio 45263, by telephone at 1-866-531-5353; or SG Americas Securities, LLC, 245 Park Avenue, New York, New York 10167, by telephone at 1-855-881-2108.

This press release shall not constitute an offer to sell or purchase or the solicitation of an offer to sell or purchase the Notes or any other securities, nor shall there be any offer, solicitation, purchase or sale of these securities in any state or jurisdiction in which such offer, solicitation, purchase or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About AerCap

AerCap is the global leader in aviation leasing with one of the most attractive order books in the industry. AerCap serves approximately 300 customers around the world with comprehensive fleet solutions. AerCap is listed on the New York Stock Exchange (AER) and is based in Dublin with offices in Shannon, Miami, Singapore, Memphis, Amsterdam, Shanghai, Dubai and other locations.

Forward-Looking Statements

This press release contains certain statements, estimates and forecasts with respect to future performance and events. These statements, estimates and forecasts are "forward-looking statements". In some cases, forward-looking statements can be identified by the use of forward-looking terminology such as "may," "might," "should," "expect," "plan," "intend," "will," "aim," "estimate," "anticipate," "believe," "predict," "potential" or "continue" or the negatives thereof or variations thereon or similar terminology. All statements other than statements of historical fact included in this press release are forward-looking statements and are based on various underlying assumptions and expectations and are subject to known and unknown risks, uncertainties and assumptions, and may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied in the forward-looking statements, including but not limited to the availability of capital to us and to our customers and changes in interest rates; the ability of our lessees and potential lessees to make lease payments to us; our ability to successfully negotiate flight equipment (which includes aircraft, engines and helicopters) purchases, sales and leases, to collect outstanding amounts due and to repossess flight equipment under defaulted leases, and to control costs and expenses; changes in the overall demand for commercial aviation leasing and aviation asset management services; the continued impacts of the Ukraine Conflict, including the resulting sanctions by the United States, the European Union, the United Kingdom and other countries, on our business and results of operations, financial condition and cash flows; the effects of terrorist attacks on the aviation industry and on our operations; the economic condition of the global airline and cargo industry and economic and political conditions; the impact of current hostilities in the Middle East, or any escalation thereof, on the aviation industry or our business; development of increased government regulation, including travel restrictions, sanctions, regulation of trade and the imposition of import and export controls, tariffs and other trade barriers; a downgrade in any of our credit ratings; competitive pressures within the industry; regulatory changes affecting commercial flight equipment operators, flight equipment maintenance, engine standards, accounting standards and taxes; and disruptions and security breaches affecting our information systems or the information systems of our third-party providers.

As a result, we cannot assure you that the forward-looking statements included in this press release will prove to be accurate or correct. These and other important factors and risks are discussed in AerCap's annual report on Form 20-F and other filings with the SEC. In light of these risks, uncertainties and assumptions, the future performance or events described in the forward-looking statements in this press release might not occur. Accordingly, you should not rely upon forward-looking statements as a prediction of actual results and we do not assume any responsibility for the accuracy or completeness of any of these forward-looking statements. Except as required by applicable law, we do not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

AerCap Holdings N.V. (PRNewsfoto/AerCap Holdings N.V.)

 

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SOURCE AerCap Holdings N.V.

FAQ

What is the total value of senior notes priced by AerCap Holdings N.V. (AER)?

AerCap Holdings N.V. (AER) priced $2.4 billion in aggregate principal amount of senior notes.

What are the terms of the senior notes offered by AerCap Holdings N.V. (AER)?

AerCap offered $1.3 billion of 4.625% Senior Notes due 2029 and $1.1 billion of 4.950% Senior Notes due 2034.

How does AerCap Holdings N.V. (AER) plan to use the proceeds from the senior notes offering?

AerCap intends to use the net proceeds for general corporate purposes, including acquiring, investing in, financing or refinancing aircraft assets and repaying indebtedness.

When did AerCap Holdings N.V.'s (AER) registration statement for this offering become effective?

AerCap's registration statement for this offering automatically became effective upon filing on October 19, 2021.

Aercap Holdings N.V.

NYSE:AER

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