Macquarie AirFinance receives second investment grade rating, BBB- from S&P and prices $500 million of 5.150% Senior Unsecured Notes

Macquarie AirFinance Holdings Limited (the “Company”) announced today that it has received a second investment grade rating and priced $500 million aggregate principal amount of 5.150% Senior Notes due 2030 (the “Notes”) in a private offering. The Notes are expected to be issued on 17 September, 2024, subject to customary closing conditions. As of the issuance date of the Notes, the Notes will be obligations solely of the Company and will not be guaranteed by any of its subsidiaries.

S&P Global Ratings (“S&P”) upgraded the Company to an investment grade rating of BBB- (stable) on announcement of the transaction. This is the Company’s second investment grade rating, having been assigned a Baa3 (stable) issuer rating by Moody’s Ratings (“Moody’s”) earlier this year.

The Company plans to use the net proceeds from the sale of the Notes to prepay a portion of the outstanding principal amount of the Company’s existing secured debt.

Michael Sims, Chief Financial Officer of the Macquarie AirFinance group, stated, “The pathway to investment grade has been a strong focus of our Company over the last several years. We are pleased with the achievement of our second investment grade rating, BBB- from S&P, which follows our inaugural investment grade rating from Moody’s in March. These investment grade ratings reflect the strong progress and strategic actions we have taken to build high-quality scale, unencumber the balance sheet and transform our operating metrics. We have seen continued support from the investor community reflected in the market demand for this offering and look forward to continuing to develop those relationships as we grow the business over future years.”

About Macquarie AirFinance 

Macquarie AirFinance, an aircraft lessor founded in 2006, provides aircraft and capital to the world’s airlines. The company owns and leases commercial jet aircraft internationally through offices in North America, Europe and Asia. Macquarie AirFinance is owned by Macquarie Asset Management (50%), PGGM Infrastructure Fund (25%) and Australia Retirement Trust (25%).

For further information, visit www.macquarie.aero.

No offer or solicitation

This press release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities and shall not constitute an offer to sell or solicitation of an offer to buy, or a sale of, any securities in any jurisdiction in contravention of applicable law.  Any offer of the Notes and the Guarantees will be made only by means of a private offering memorandum.

The Notes and the Guarantees have not been and will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any other jurisdiction. The Notes and the Guarantees are being offered and sold only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act and to certain non-U.S. persons in offshore transactions in reliance on Regulation S under the Securities Act.