Goshawk issues $566.5 million US private placement

Goshawk issues $566.5 million US private placement

Goshawk has issued a $566.5 million US private market placement of unsecured notes to institutional investors.

The notes were launched with a value of $100 million but due to “strong market demand”, the value grew to $566.5 million. Goshawk believes this is the largest US private placement made by an aircraft lessor.

The placement is comprised of four tranches with a seven, eight, nine and ten year tenors each, making an average of 8.5 years. Pricing was completed earlier this month.

Proceeds from the notes will be used for aircraft acquisitions and general corporate purposes.

Anand Ramachandran, CFO of Goshawk said: “We are delighted to have completed our second issuance of notes in this market. We achieved all our objectives with this transaction.

“Several new as well as a number of existing institutional investors participated which is important as we aim to continue to increase the number of reliable sources of capital for our business. The transaction is attractively priced and the debt term of over 8.5 years closely matches the company’s average lease term.”

Joint lead agents for the placement were Citibank, Credit Agricole, Natixis and HSBC, BNP Paribas was a co-lead agent. O’Melveny & Myers acted as Goshawks legal counsel and Greenberg Traurig Maher acted as counsel for the investor.

Goshawks total asset value is approximately $5.6 billion.

Issuer: Goshawk
Amount: $566.5 million
Tranches: Four
Tenor Average: 8.5 years
Type: US private market placement

Joint Lead Agents: Citibank, Credit Agricole, Natixis and HSBC
Co-lead agent: BNP Paribas
Counsel: Meyers (Goshawk) and Greenberg Traurig Maher (Investor).

Alex Baldwin
By Alex Baldwin July 21, 2017 10:55