ACG Raises Aircraft Capital
- Aviation Capital Group closed a sale of $750 million in 1.95 percent senior unsecured notes due 2026 with a 7.728 percent yield-to-maturity. Proceeds will be used to purchase aircraft, repay debt and for general corporate purposes.
- Gol has priced a $150 million add on to its 8 percent senior secured notes due 2026. The additional funds increase the facility, which was first priced in December 2020, to $650 million. Proceeds will be used for opportunistic aircraft deals like the one for 28 Boeing 737-8s it unveiled in August, as well as general corporate purposes.
- JetBlue has repaid the $115 million outstanding under its CARES Act loan from the U.S Treasury. The debt, which was priced at 275bps over Libor, was borrowed to boost the airline’s liquidity in September 2020. Since then, the travel recovery has accelerated faster than many expected and JetBlue has been able to tap private sources for its capital needs.