Aviation company AerCap Holdings N.V. (AER) Friday said it has closed two transactions for the financing of a total of six Airbus aircraft with the European Export Credit Agencies, led by the Export Credits Guarantee Department, the United Kingdom's Export Credit Agency.
The company noted that the first transaction increased AerCap's European Export Credit Agencies facility by $164 million and completed the financing of five Airbus A320 aircraft, of which three were delivered on long-term leases last week, with the Export Credit Agencies guaranteed debt provided by Credit Agricole CIB.
The second transaction which priced on September 20 is related to the closing of the company's second bond issuance guaranteed by the United Kingdom's Export Credit Agency. The notes were issued at a fixed rate of 3.215%, have a maturity in 2021, and an initial principal amount of $74 million.
This transaction completed the refinancing of an A330-300 aircraft which was previously financed by Export Credit Agencies-guaranteed debt provided by Credit Agricole CIB. The respective aircraft was delivered to AerCap in the fourth quarter of 2009 and has been placed on a long-term lease.
AER shares are currently trading at $11.99, up $0.19 or 1.61% on the NYSE.
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