AerCap Holdings N.V.’s US$21 Billion Unsecured Bond Offer

McCann FitzGerald LLP advises AerCap Holdings N.V. on the deal.

The transaction involved a US$21 billion unsecured bond issuance by AerCap Ireland Capital DAC (“AICDAC”) and AerCap Global Aviation Trust (“AGAT”, and together with AICDAC, the “Issuers”) consisting of $1.75 billion aggregate principal amount of their 1.15% Senior Notes due 2023 (the “2023 Notes”), $3.25 billion aggregate principal amount of their 1.65% Senior Notes due 2024 (the “2024 Notes”), $1.00 billion aggregate principal amount of their 1.75% Senior Notes due 2024 (the “2024 NC1 Notes”), $3.75 billion aggregate principal amount of their 2.45% Senior Notes due 2026 (the “2026 Notes”), $3.75 billion aggregate principal amount of their 3.00% Senior Notes due 2028 (the “2028 Notes”), $4.00 billion aggregate principal amount of their 3.30% Senior Notes due 2032 (the “2032 Notes”), $1.50 billion aggregate principal amount of their 3.40% Senior Notes due 2033 (the “2033 Notes”), $1.50 billion aggregate principal amount of their 3.85% Senior Notes due 2041 (the “2041 Notes”) and $0.50 billion aggregate principal amount of their Floating Rate Senior Notes due 2023 (the “Floating Rate Notes” and, together with the 2023 Notes, the 2024 Notes, the 2024 NC1 Notes, the 2026 Notes, the 2028 Notes, the 2032 Notes, the 2033 Notes and the 2041 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 a portion of the cash consideration to be paid in the acquisition of the GE Capital Aviation Services business (“GECAS”) by AerCap from General Electric Company, and to pay related fees and expenses, with any excess proceeds to be used for general corporate purposes.

McCann Fitzgerald’s team included Hilary Marren (Picture), Josh Hogan and Tony Spratt.

Involved fees earner: Josh Hogan – McCann FitzGerald; Hilary Marren – McCann FitzGerald;

Law Firms: McCann FitzGerald;

Clients: AerCap Holdings N.V.;

Giulia Di Palma

Author: Giulia Di Palma