US HY CLOSE-AerCap sole issuer in high-yield market

By Mike Gambale

NEW YORK, Oct (HKSE: 3366-OL.HK - news) 16 (IFR) - Below is a recap of primary issuance activity in the US high-yield market on Friday:

Number of deals priced: 1

Total (Swiss: FP.SW - news) issuance volume: US$1bn

PRICED:

AERCAP

AerCap Ireland Capital Limited (Ireland (Other OTC: IRLD - news) ), AerCap Global Aviation Trust (Delaware), rated Ba2/BB+/BB+ (p/p/p), announced a US$400m SEC-Reg 5-year NCL senior unsecured notes via CITI(left)/CA (NasdaqGS: CA - news) /MS/BARC/CS/DB/GS/JPM/MIZ/RBC (Other OTC: RBCI - news) /UBS (NYSEArca: FBGX - news) /WFS. Co-managers are BNP (Paris: FR0000131104 - news) /FITB/HSBC/SCOTIA/STRH. US$101 COC put. MWC T+50bp. UOP: GCP. BIZ: World's largest aircraft leasing company after acquiring International Lease Finance Corp. in 2014. It (Other OTC: ITGL - news) is headquartered in the Netherlands.

WHISPER: 5.00%

PRICE TALK: 4.75% area. Deal upsized to US$1bn from US$400m.

PRICED: US$1bn (upsized from US$400m). Cpn 4.625%. Due 10/30/20. Ip par. Yld 4.625%. +327bp vs 1.375% 9/30/20 UST. First (Other OTC: FSTC - news) pay date: 4/30/16. Settlement date 10/21/15. Cusip # 0772BAQ4.

VOLUME STATISTICS

THIS WEEK'S VOLUME:

1 Tranche US$1.000bn

OCTOBER VOLUME:

2 Tranches US$1.400bn

2015 VOLUME:

353 Tranches US$224.385bn

THIS WEEK'S TRANCHES BY MATURITY:

1 X 5-YRS US$1.000bn

THIS WEEK'S TRANCHES BY S&P RATINGS:

1 X BB+ US$1.000bn (Reporting By Michael Gambale; editing by Shankar Ramakrishnan)