Global law firm White & Case LLP represented Aviation Capital Group Corp. (ACG) in the sale of US$750 million in senior unsecured notes. The notes, which carry a coupon rate of 6.75% and are scheduled to mature on April 6, 2021, were sold in the 144A private placement market. The notes offering follows ACG's first 144A private placement issuance in 2010, a transaction that White & Case also advised on and which was selected as "2010 Deal of the Year: North America" by Airfinance Journal.
The joint book-running managers for the offering were BNP Paribas Securities Corp., Credit Suisse Securities (USA) LLC and JP Morgan Securities LLC.
The White & Case team comprised partners Michael Smith (Asset Finance), David Johansen (Capital Markets), Ray Simon (Tax) and Mark Hamilton (Employment and Benefits) and associates Elodie Gal (Capital Markets), Jeannine Acevedo (Asset Finance), Isaac Tendler (Tax), and Ji Kim (Capital Markets), all based in New York.
Founded in 1989, ACG is a leading operating lessor of commercial jet aircraft to airlines worldwide. It is a wholly owned subsidiary of Pacific Life Insurance Company, a Pacific LifeCorp company.
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