SMBC closes second $500 million offering

SMBC closes second $500 million offering

SMBC Aviation Capital has closed the sale of its second $500 million senior unsecured note offering.

The bond was issued through its subsidiary SMBC Aviation Capital Finance DAC with a 3% coupon rate on a five year term due July 2022.

This closing comes a year after SMBC’s first bond issuance in July 2016, also valued at $500 million.

Barry Flannery, CFO of SMBC Aviation Capital said: “The successful execution of this transaction demonstrates the market’s confidence in our business and our commitment to diversifying our sources of funding.Our bond programme is the foundation of our third-party funding strategy and, together with our ongoing shareholder support, will underpin the delivery of our future growth”.

Aircraft Investor talked to Peter Barrett, CEO of SMBC in March, discussing the company’s many successes in 2016, its continued profitability over its 15-years and how it will keep its momentum throughout 2017.

Alex Baldwin
By Alex Baldwin July 20, 2017 12:51