Nordic Aviation Capital (NAC) is pleased to confirm that it has successfully completed its debut US$200 million Senior Unsecured Private Placement issuance. The issuance consists of 5 and 7 year tranches, with the proceeds being used to refinance aircraft within our portfolio. The Notes will rank pari passu with all other unsecured indebtedness of the issuer, a wholly-owned subsidiary of NAC. This follows the successful closing of a US$350 million revolving credit facility as the company continues with its unsecured funding strategy.

This private placement issuance is a landmark transaction for the 26-year-old company and a significant step in migrating to unsecured financing. “We are very pleased with our inaugural issue and the operational flexibility it affords NAC as we continue to expand our customer base,” says CEO Søren M. Overgaard.

“There is no doubt that the US Private Placement market has value to NAC, and the great support to NAC’s business model which has been shown may well lead to further issuing in due course,” adds Steve Gorman, Managing Director and Head of Global Treasury.

The issue was arranged by Citigroup Global Markets Inc. and Deutsche Bank Securities Inc.

Clifford Chance LLP acted as counsel for NAC while Morgan, Lewis & Bockius LLP acted as counsel for the Note Holders.