By William Gullotti and Cristal Cody
Buffalo, N.Y., March 27 – SMBC Aviation Capital Finance DAC priced $1.5 billion of notes due 2029 and 2034 (A-/BBB+) on Tuesday, according to information provided by a market source.
SMBC priced a $650 million tranche of 5.3% notes due 2029 at 108 basis points over Treasuries, tight to initial talk in the Treasuries plus 135 bps area.
The $850 million tranche of 5.55% notes due 2034 priced at Treasuries plus 135 bps, also under initial talk in the Treasuries plus 160 bps area.
SMBC Aviation Capital is a Dublin-based global aircraft leasing company.
| Issuer: | SMBC Aviation Capital Finance DAC
|
| Amount: | $1.5 billion
|
| Issue: | Notes
|
| Pricing date: | March 26
|
| Ratings: | Moody’s: A-
|
| S&P: BBB+
|
|
|
| 2029 notes
|
| Amount: | $650 million
|
| Maturity: | April 4, 2029
|
| Coupon: | 5.3%
|
| Spread: | Treasuries plus 108 bps
|
| Initial talk: | Treasuries plus 135 bps area
|
|
|
| 2034 notes
|
| Amount: | $850 million
|
| Maturity: | April 4, 2034
|
| Coupon: | 5.55%
|
| Spread: | Treasuries plus 135 bps
|
| Initial talk: | Treasuries plus 160 bps area
|
|
|
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