Avilease, the aircraft leasing company owned by the Public Investment Fund (PIF) priced the offering of $650 million aggregate principal amount of 5.50% senior unsecured notes due 2031 by AviLease Capital Limited, a directly wholly owned subsidiary of AviLease, under its Global Medium Term Note Program.
The notes will bear a fixed coupon of 5.50% per annum, payable semi-annually in arrears, and will mature in June 2031, according to the company’s statement.
They will be fully and unconditionally guaranteed by AviLease, and by certain of its subsidiaries. The notes will be rated Baa2 by Moody’s and BBB by Fitch, it added.
AviLease also said it intends to use the net proceeds from the offering for general corporate purposes. The offering was more than 5.3 times oversubscribed with strong demand from investors globally.
According to data available with Argaam, AviLease was established by PIF in June 2022. The company operates in aircraft leasing, sales, and fleet management services, and is working to expand its operational activities through the purchase of aircraft and their subsequent leaseback, in addition to executing direct purchase orders from aircraft manufacturers.
Avilease, the aircraft leasing company owned by the Public Investment Fund (PIF) priced the offering of $650 million aggregate principal amount of 5.50% senior unsecured notes due 2031 by AviLease Capital Limited, a directly wholly owned subsidiary of AviLease, under its Global Medium Term Note Program.
The notes will bear a fixed coupon of 5.50% per annum, payable semi-annually in arrears, and will mature in June 2031, according to the company’s statement.
They will be fully and unconditionally guaranteed by AviLease, and by certain of its subsidiaries. The notes will be rated Baa2 by Moody’s and BBB by Fitch, it added.
AviLease also said it intends to use the net proceeds from the offering for general corporate purposes. The offering was more than 5.3 times oversubscribed with strong demand from investors globally.
According to data available with Argaam, AviLease was established by PIF in June 2022. The company operates in aircraft leasing, sales, and fleet management services, and is working to expand its operational activities through the purchase of aircraft and their subsequent leaseback, in addition to executing direct purchase orders from aircraft manufacturers.
