Sky Money

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Airlines Issue More Than $1 Billion in Bonds

Korean Air priced a Japanese yen-denominated senior unsecured bond guaranteed by the Export-Import Bank of Korea (KEXIM). Proceeds from the three-year notes will be used to repay debt. Moody's Investor Service rated the bond an investment grade Aa2.Singapore Airlines sold...

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Air Lease Prices Debut 2022 Bonds

Air Lease Corp. has priced a $750 million senior unsecured medium-term notes offering at 2.2 percent. The debt matures in January 2027. Proceeds will be used for general corporate purposes, including acquiring aircraft and repaying outstanding debt. Bank of America...

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Delta, Virgin Group Invest $530 Million in Virgin Atlantic

Delta Air Lines is investing up to $1.2 billion in three of its foreign airline partners — Virgin Atlantic, Aeromexico, and Latam Airlines Group — as those carriers emerge from bankruptcy and restructuring. The move is a sign that Delta...

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Lufthansa Issues €1.5 Billion Bond

The Lufthansa Group issued a €1.5 billion ($1.7 billion) unsecured corporate bond last week. The two-tranche transaction is split between €600 million in 1.625 percent notes due in November 2023, and €900 million in 2.875 percent notes due in May...

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American Taps Capital Markets

American Airlines launched its first enhanced equipment trust certificate (EETC) issue of the year, the $960 million 2021-1 notes, last week. The $758 million A tranche priced at a 124.5 basis points over 10-year U.S. Treasuries on October 26 with...

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Qantas Sells Land for Cash

Etihad Airways has closed a $1.2 billion loan linked to its environmental, social and governance targets. The financing, which Etihad touts as the "first sustainability-linked" loan in global aviation, is tied to its carbon emission reduction targets, socioeconomic programs including...

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Finnair, Icelandair Close Sale-And-Leasebacks

EasyJet completed its £1.2 billion ($1.6 billion) rights issue with 93 percent of the new 301 million new shares subscribed by close on September 28. The balance will be purchased by underwriters BNP Paribas, Credit Suisse, Goldman Sachs, Santander and...

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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...

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Lufthansa Raises Capital to Repay Aid

Lufthansa Group has launched a €2.1 billion ($2.5 billion) capital increase. Proceeds will repay the €1.5 billion Silent Participation I from the German government's Covid-19 stabilization package and boost liquidity. In addition, citing indications of a "sustained demand recovery" and...

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United Finances Houston Improvements

Air Lease Corporation priced a $600 million unsecured medium-term notes issue at 0.8 percent last week. The debt matures in August 2024. The lessor will use proceeds for general corporate purposes, including aircraft purchases and repaying outstanding debt. Volaris and CDB...

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Air Canada Refinancing Goes Big

Air Canada has put the pieces together on a roughly $5.7 billion financing package. It includes a $2.8 billion private placement split between: $1.2 billion in senior secured notes due in 2026 with a 3.875 percent coupon, and C$2 billion...

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Air Canada Plans $5.4 Billion Refinancing

The debt refinancing spree continues with Air Canada looking to raise up to $5.35 billion to repay four separate high-coupon transactions. The deal includes a $2 billion senior secured term loan B due in 2028 and a senior secured revolving...

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