Aercap buys back $1.45bn in outstanding notes | News | Airfinance Journal

Aercap buys back $1.45bn in outstanding notes

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Aercap has bought back $1.45 billion of outstanding notes as part of a debt tender exercise.

The lessor says that it purchased almost $744 million of bonds which holders offered from a $1 million notes issuance due to mature in December 2020.

It also bought $376 million of $650 million of outstanding notes maturing in January 2022 and acquired almost $335 million of nearly $500 million of notes that mature in April 2021.

The weighted average annual coupon of these bonds is 7.5%. All the bonds have an acceptance priority of between 1 and 3.

The monetary value of the bonds is higher than a cap of $1.25 million excluding the applicable accrued coupon payments Aercap placed on the debt tender, but it says it waived the condition for notes of the series with an acceptance priority level of 3.

A total of $7.89 billion of outstanding notes were offered for sale, with those of an acceptance level of 4 or below rejected by the lessor.


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