Griffin Global Asset Management Announces Closing of $400 Million Senior Unsecured Notes Offering

BY GlobeNewswire | CORPORATE | 04/03/24 12:01 AM EDT

DUBLIN, Ireland, April 03, 2024 (GLOBE NEWSWIRE) -- Griffin Global Asset Management (?Griffin?) announces the successful closing by GGAM Finance Ltd. of an offering of an aggregate principal amount of $400 million senior unsecured notes. The notes were priced at par.

The offering comprises $400 million of 6.875% senior unsecured notes due 2029 (the ?Notes?). The Notes will be guaranteed by Griffin Global Asset Management Holdings, Ltd. and certain of its subsidiaries. Proceeds from the issuance will be used for general corporate purposes, which may include financing the acquisition of new aircraft deliveries and the future repayment of outstanding indebtedness.

John Beekman, Griffin CFO, commented: ?We are delighted to announce the closing of our latest unsecured notes offering. This issuance reflects our fourth visit to the capital markets in under a year and brings our total volume of unsecured notes issued to over $2 billion. We were thrilled with the strong market demand for this offering and would like to thank all our stakeholders, existing and new, as we continue to grow our business in a thoughtful and deliberate manner.?

The Notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the ?Securities Act?) or the securities laws of any jurisdiction and may be offered or sold only in a transaction exempt from, or not subject to, the registration requirements of the Securities Act. The Notes were offered and sold only to qualified institutional buyers in reliance on Rule 144A under the Securities Act and outside the United States to non-U.S. persons in offshore transactions in reliance on Regulation S under the Securities Act.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes, nor shall there be any sale of the Notes in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.?

Forward Looking Statements

This press release may contain forward-looking statements that involve substantial risks and uncertainties. You can identify these statements by the use of forward-looking terminology such as ?may,? ?will,? ?should,? ?expect,? ?anticipate,? ?project,? ?estimate,? ?intend,? ?continue? or ?believe? or the negatives thereof or other variations thereon or comparable terminology. You should read statements that contain these words carefully because they discuss our plans, strategies, prospects and expectations concerning our business, operating results, financial condition and other similar matters. We believe that it is important to communicate our future expectations to our investors. There may be events in the future, however, that we are not able to predict accurately or control. Any forward-looking statement made by us in this press release speaks only as of the date on which we make it. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

About Griffin Global Asset Management

Griffin is a commercial aircraft leasing and alternative asset management business with offices in Dublin, Ireland, Puerto Rico, and Los Angeles, CA. Griffin?s team of aviation professionals works closely with airlines, OEMs, and financiers to deliver customized fleet solutions and innovative financing products to airlines globally.

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Source: Griffin Global Asset Management

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