Macquarie AirFinance Announces Pricing of $500 Million of Senior Unsecured Notes due 2029

BY Business Wire | CORPORATE | 09/12/23 11:03 PM EDT

LONDON--(BUSINESS WIRE)-- Macquarie AirFinance Holdings Limited (the ?Company?) announced today that it has priced $500 million aggregate principal amount of its 8.125% Senior Notes due 2029 (the ?Notes?) in a private offering. The Notes are expected to be issued on 18 September, 2023, subject to customary closing conditions.

The Notes will be jointly and severally guaranteed (each, a ?Guarantee?) by each of the Company?s direct and indirect subsidiaries, other than the servicing entities of the Macquarie AirFinance group and each secured group subsidiary as defined under the Company?s existing unsecured credit facility.

The Company plans to use the net proceeds from the sale of the Notes to prepay a portion of the outstanding principal amount of the Company?s existing indebtedness, consisting predominantly of secured indebtedness.

Michael Sims, Chief Financial Officer of the Macquarie AirFinance group, stated, ?We are delighted to announce pricing of our latest senior unsecured notes offering. The investor community has shown tremendous support to the business as we continue to transition to a predominantly unsecured capital structure. The increase in flexibility and diversity of our funding sources supports Macquarie AirFinance in its endeavours to grow the business and position its capital structure consistent with an investment-grade rating.?

About Macquarie AirFinance

Macquarie AirFinance, an aircraft lessor founded in 2006, provides aircraft and capital to the world?s airlines. The company owns and leases commercial jet aircraft internationally through offices in North America, Europe and Asia. Macquarie AirFinance is owned by Macquarie Asset Management (50%), PGGM Infrastructure Fund (25%) and Australia Retirement Trust (25%).

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No Offer or Solicitation

This press release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities and shall not constitute an offer to sell or solicitation of an offer to buy, or a sale of, any securities in any jurisdiction in contravention of applicable law. Any offer of the Notes and the Guarantees will be made only by means of a private offering memorandum.

The Notes and the Guarantees have not been and will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any other jurisdiction. The Notes and the Guarantees are being offered and sold only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act ("Rule 144A") and to certain non-U.S. persons in offshore transactions in reliance on Regulation S under the Securities Act.

Important Notice

Other than Macquarie Bank Limited ABN 46 008 583 542 (?Macquarie Bank?), neither Macquarie AirFinance Limited nor any other Macquarie Group entity noted in this document is an authorized deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia). The obligations of Macquarie AirFinance Limited and these other Macquarie Group entities do not represent deposits or other liabilities of Macquarie Bank and Macquarie Bank does not guarantee or otherwise provide assurance in respect of their obligations of Macquarie AirFinance Limited or these other Macquarie Group entities. In addition, if this document relates to an investment, (a) the investor is subject to investment risk including possible delays in repayment and loss of income and principal invested and (b) none of Macquarie Bank, Macquarie AirFinance Limited or any other Macquarie Group entity or Macquarie AirFinance Limited guarantees any particular rate of return on or the performance of the investment, nor do they guarantee repayment of capital in respect of the investment.

Source: Macquarie AirFinance Holdings Limited

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