ACG starts cash tender for 7.125% notes
Aviation Capital Group has commenced a cash tender offer to purchase any and all of its 7.125% senior notes due 15 October 2020.
As of 10 June, the California-based lessor had $600 million aggregate principal amount of the notes outstanding.
The tender offer is being made pursuant to an offer to purchase, dated as of 10 June, and a notice of guaranteed delivery.
The offer will expire at 5:00 pm, New York City time, on 16 June, unless extended or earlier terminated as described in the offer to purchase.
The tender offer is not conditioned on any minimum amount of notes being tendered.
Earlier this month, ACG confirmed to Airfinance Journal that it has delivered an Airbus A321LR from its orderbook to South Korean budget carrier Air Busan, an affiliate of Asiana Airlines.
The CFM LEAP-1A-powered unit was delivered over 2-3 June from Airbus’s Hamburg facility to the airline’s base at Seoul Incheon, via Novosibirsk.
The aircraft marks the second A321LR for the Korean airline, following delivery of a first in March, also from ACG's orderbook.