2 October 2020
McCann FitzGerald Advises AerCap Holdings N.V. on a Recent US$1.5 Billion Unsecured Bond Issuance
In our role as standing Irish counsel to AerCap Holdings N.V. (the “Company”), we acted in relation to a recent US$1.5 billion unsecured bond issuance by its wholly owned subsidiaries AerCap Ireland Capital DAC (“AICDAC”) and AerCap Global Aviation Trust (“AGAT”, and together with AICDAC, the “Issuers”) consisting of $900,000,000 aggregate principal amount of 3.150% Senior Notes due 2024 (the “2024 Notes”) and $600,000,000 aggregate principal amount of 4.625% Senior Notes due 2027 (the “2027 Notes” and, together with the 2024 Notes, the “Notes”).
The Notes will be fully and unconditionally guaranteed on a senior unsecured basis by the Company and certain other subsidiaries of the Company. The Issuers intend to use the net proceeds from the Notes to fund the previously announced cash tender offers by AGAT (the “Tender Offers”) to purchase certain notes previously issued by the Issuers and to pay fees and expenses in connection therewith. In the event the Tender Offers are not consummated, or the net proceeds from the Notes are otherwise in excess of the amount needed to fund the Tender Offers and to pay related fees and expenses, the Issuers intend to use remaining proceeds for general corporate purposes.
This issuance follows shortly after the issuance of US$1.25 billion aggregate principal amount of 4.50% Senior Notes due 2023 and the issuance of US$1.25 billion aggregate principal amount of 6.50% Senior Notes due 2025 by the Issuers in June 2020 in which we also acted for the Company.
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