Aviation

March 22, 2019
 

NAC completes private placement

Regional aircraft lessor Nordic Aviation Capital (NAC) closed in March a third senior unsecured private debt placement.

The issuance, rated as triple-B by Kroll Bond Rating Agency, was launched at $250 million and was oversubscribed allowing NAC to source a total of $786.25 million.

The new transaction consists of five- and seven-year tranches, with the proceeds being used to refinance aircraft.

Arrangers of the issue were Citigroup Global Markets, RBC Capital Markets, Deutsche Bank Securities and Goldman Sachs.

The issue featured new and existing investors.

Clifford Chance acted as counsel for NAC while Morgan Lewis & Bockius acted as counsel for the note-holders.