Macquarie AirFinance prices $1 billion of Senior Unsecured Notes

Macquarie AirFinance Holdings Limited (the “Company”) announced today that it has priced $500 million aggregate principal amount of its 6.400% Senior Notes due 2029 and $500 million aggregate principal amount of its 6.500% Senior Notes due 2031 (together, the “Notes”) in a private offering. The Notes are expected to be issued on 26 March, 2024, subject to customary closing conditions.

The Notes will be jointly and severally guaranteed (each, a “Guarantee”) by each of the Company’s direct and indirect subsidiaries, other than the servicing entities of the Macquarie AirFinance group and each secured group subsidiary as defined under the Company’s existing unsecured credit facility.

Moody’s Ratings (“Moody’s”) has assigned a Baa3 (stable) issuer rating to the Company and has also assigned a Baa3 (stable) senior unsecured rating to the Notes. S&P revised their outlook on the Company to positive from stable and affirmed the Company’s BB+ rating.

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, “We are pleased to announce pricing of our latest senior unsecured notes offering. The strong market demand for this offering reflects the tremendous support we have received from the investor community since our inaugural unsecured issuance last year. This transaction marks a significant milestone for Macquarie AirFinance with our achievement of an investment grade rating from Moody’s and positive outlook for our BB+ rating from S&P. The addition of the investment grade rating provides a further increase in flexibility and diversity of our funding sources to support Macquarie AirFinance in our endeavours to grow the business and further unencumber the balance sheet.”

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 ("Rule 144A") and to certain non-U.S. persons in offshore transactions in reliance on Regulation S under the Securities Act.