Macquarie AirFinance Holdings Limited (the “Company”) announced today that it has priced $500 million aggregate principal amount of its 8.125% Senior Notes due 2029 (the “Notes”) in a private offering. The Notes are expected to be issued on 18 September, 2023, subject to customary closing conditions.
The Notes will be jointly and severally guaranteed (each, a “Guarantee”) by each of the Company’s direct and indirect subsidiaries, other than the servicing entities of the Macquarie AirFinance group and each secured group subsidiary as defined under the Company’s existing unsecured credit facility.
The Company plans to use the net proceeds from the sale of the Notes to prepay a portion of the outstanding principal amount of the Company’s existing indebtedness, consisting predominantly of secured indebtedness.
Michael Sims, Chief Financial Officer of the Macquarie AirFinance group, stated, “We are delighted to announce pricing of our latest senior unsecured notes offering. The investor community has shown tremendous support to the business as we continue to transition to a predominantly unsecured capital structure. The increase in flexibility and diversity of our funding sources supports Macquarie AirFinance in its endeavours to grow the business and position its capital structure consistent with an investment-grade rating.”