NAC places US$486 million of unsecured debt to refinance aircraft within its portfolio

Billund, Denmark, 27-Mar-2018 — /EuropaWire/ — NAC has recently completed the placement of US$486m of unsecured debt through US$381 million Senior Unsecured Private Placement issuance and an US$105 million Unsecured Schuldschein offering.

These issuances consist of 3,5,7,8, and ten-year tranches. The proceeds will be used to refinance aircraft within its portfolio. The issuances will rank pari passu with all other unsecured indebtedness of the Issuer, a wholly-owned subsidiary of NAC.

This private placement issuance follows the company’s inaugural issue in June last year and is a continuance of the program in migrating to an unsecured financing structure. The Schuldschein was the company’s first such issuance in this market as it seeks to widen its sources of unsecured funding.

‘We are very pleased with both these issues and the continuing operational flexibility it affords NAC as we continue to expand our customer base,” says CEO Søren M. Overgaard.

The US Private Placement issue was arranged by Citigroup Global Markets Inc. and BNP Paribas Inc., and the Schuldschein was arranged by Investec Bank.

About Nordic Aviation Capital

NAC is the industry’s leading regional aircraft lessor serving over 70 airline customers in 47 countries. The company provides aircraft to well-established carriers such as British Airways, Air Canada, LOT, Azul, Lufthansa, Garuda, Flybe, Aeroméxico and airBaltic as well as major regional carriers including Air Nostrum and Widerøe. NAC’s current fleet of over 400 owned and managed aircraft includes ATR 42, ATR 72, Bombardier Dash 8, CRJ900, CRJ1000, CS300, E170, E175, E190 and E195. In addition, the group has circa 50 aircraft on firm order. NAC is the largest owner and lessor of both ATR and Bombardier aircraft in the world.

For additional information, please visit us at www.nac.dk

Contacts: Søren M. Overgaard +45 7651 1200

Media Contact
Eva Ferguson
Phone: +35361432400
marketing@nac.dk

SOURCE: Nordic Aviation Capital

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