Nordic Aviation Capital (NAC) is pleased to confirm that it has priced a record-breaking US Private Placement of USD858.83 million. This is the largest Private Placement by an aircraft lessor in the history of the market. The pricing of the transaction was completed last week with closing and funding later this month. This follows last year’s record transaction of USD786.25million, which at the time was the largest ever Senior Unsecured Private Placement issued by an aircraft lessor.
The new transaction consists of three, five- and seven-year tenors with the bulk being five years. It has a weighted coupon of 3.92%. There are over 26 investors involved in the transaction; 8 of these represent new investor relationships. This is a strong testament to the rapidly growing investor confidence in NAC as the clear leader in the regional aircraft leasing industry.
“We are very pleased with another landmark issue and the amount of support we have received from both new and existing investors. The issuing will enable NAC to further strengthen its market-leading platform and to actively pursue its ambitious corporate and market strategies,” says CEO Søren M. Overgaard.
“We are delighted with another sizeable and very successful issuance of unsecured notes in this market, and to surpass last year’s fundraising has been an even further validation of NAC’s funding strategy and the regional aircraft sector. This issuance will enable the company to further unencumber its balance sheet reducing its secured debt to total assets to around 30%,” adds Steve Gorman Chief Funding Officer.