23 Apr 2019

Irish Aircraft Leasing Newsletter 23 April

Aircastle Announces Repossession of Aircraft from Avianca Brazil Aircastle announced 16 April that it has repossessed its ten A320-200 aircraft that were previously on lease to Avianca Brazil. The ten A320-200 aircraft are now transitioning to committed long-term leases with a major international carrier. Avolon Announces Pricing of Investment Grade Rated US$2.5BN Senior Notes Offering Avolon announced the successful pricing of a private offering by its wholly owned subsidiary, Avolon Holdings Funding Limited, for a principal aggregate amount of US$2.5 billion. Avolon said proceeds from the Offering will be used for general corporate purposes, including the repayment of outstanding legacy secured debt, consistent with a commitment to reduce the level of secured debt in Avolon’s capital structure to 30% of total assets. Fly Leasing Completes Sale of 12 Aircraft Fly Leasing announced 16 April that it has completed the sale of a portfolio of 12 aircraft for an aggregate price of approximately $295 million. The portfolio was comprised of Airbus A320 and Boeing B737 narrow-body aircraft with an average age of over 10 years. GECAS and Oz Management Close STARR 2019-1: The Second Structured Sale of Aircraft to Include OZM as Dedicated Asset Manager GECAS and Oz Management announced 18 April the closing of STARR 2019-1. In this transaction GECAS is selling twenty in-production Boeing and Airbus narrowbodies to START II Ltd. With an average aircraft age of less than six years, the diversified portfolio includes aircraft currently on lease to 13 airlines in 11 countries and has total appraised value of approximately $589 million. NAC delivered one ATR 72-600, MSN 1080, to PT Transnusa Aviation Mandiri on lease Nordic Aviation Capital (NAC) announced 17 April the delivery of one ATR 72-600, MSN 1080, to PT Transnusa Aviation Mandiri on lease. SMBC Aviation Capital closes $500 million senior unsecured offering SMBC Aviation Capital announced 15 April that its wholly-owned subsidiary, SMBC Aviation Capital Finance DAC, has closed the sale of $500 million principal amount of 3.55%, five-year senior unsecured notes due April 2024 The Notes are fully and unconditionally guaranteed by SMBC Aviation Capital. The proceeds from the offering will be used for general corporate purposes which may include, among other things, the purchase of aircraft and the repayment of existing indebtedness. TrueNoord introduces European Sales Director Dublin office, Michael Adams  TrueNoord announced 15 April the appointment of Michael Adams as European Sales Director. Based in TrueNoord’s Dublin office, Adams’ primary responsibilities will be to support the existing TrueNoord customer base in Europe as well as source and close regional aircraft leases with new customers in Europe. Acumen Aviation © 23 April 2019 All Rights Reserved.