Aviation Capital Group Corp. (ACG) has closed the sale of USD 1bn of 2.875% unsecured senior notes due January 20, 2022 at a price of 99.364% of par, the company said.
Proceeds from the notes will be used for general corporate purposes, including repayment of existing indebtedness. The notes are not guaranteed by ACG´s parent company, any of ACG´s subsidiaries, or any third party.
Including today´s transaction, ACG has raised more than USD 11bn of debt financing since the beginning of 2010.
Aviation Capital Group is a wholly owned subsidiary of Pacific Life Insurance Company. The commercial aircraft leasing company has approximately 415 owned, managed and committed aircraft, which are leased to approximately 90 airlines in approximately 40 countries.