announces pricing of US$400 million of senior unsecured notes due 2030
Summary
Specialist regional aircraft lessor, TrueNoord, announces the successful pricing of US$400 million aggregate principal amount of its 8.750% senior unsecured notes due 2030 (the Notes) in a private offering by its wholly owned subsidiary, TrueNoord Capital Designated Activity Company (the Issuer).The Notes will be fully and unconditionally guaranteed on a senior unsecured basis by the Company and certain other subsidiaries of the Company.The Issuer intends to use the net proceeds from the Notes to prepay a portion of the outstanding principal amount of the Companys existing indebtedness, consisting predominantly of secured indebtedness, with the remainder available for general corporate purposes including to acquire, invest in, finance or refinance aircraft assets.The Notes are expected to be issued on or about 13 February 2025, subject to customary closing conditions.The Notes are rated by Fitch Ratings (BB-) and S&P Global Ratings (B+). The success of this issuance increases our cash flow and operational flexibility, and reflects the strength of our business and the confidence of the markets. It positions us for continued growth and enhances our ability to provide fleet solutions to our expanding customer base of respected airlines.We are delighted to announce pricing of our inaugural senior unsecured notes offering, added Paul Murphy, Chief Financial Officer of TrueNoord. The investor community has shown great support to the business as we embark on a journey to transition to a predominantly unsecured capital structure. The Notes were offered and sold only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act and outside the United States to non-U.S. persons in offshore transactions in reliance on Regulation S under the Securities Act.This press release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy the Notes, nor shall there be any sale of the Notes in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.