AWAS in growth mode; LATAM prices EETC

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By TESTCustomwebLP TESTCustomwebLP May 14, 2015 13:10

AWAS in growth mode; LATAM prices EETC

Airline Economics would like to clarify that AWAS is not currently up for sale as indicated in our post yesterday. AWAS has clarified that Ray Sisson’s comments at the event in Singapore indicated that the lessor’s future has not yet been determined and it is not currently up for sale. Sisson said: “As the last top 10 leasing platform whose long term/next ownership is yet to be determined, if/when our shareholders decide to sell, it will be important news.”

AWAS has also stressed that it is back in “full aggressive growth mode”, which has been demonstrated by its recent acquisitions and its plan to invest in $1-1.5billion in capex aircraft acquisitions each year.

Meanwhile, LATAM Airlines Group has priced the private offering of enhanced equipment trust certificates (EETC) with an aggregate face amount of US$664,226,000 to finance the acquisition of  nine aircraft, comprising seven A321-200s, one A350-900 and three 787-9s scheduled to be delivered from July 2015 to March 2016.

The two tranche deal was rated by Moody’s, which assigned an A2 rating to the A notes and Baa2 for the B tranche.

The latest news is that the EETC priced competitively and has been upsized to close to $1bn. Further details will be disclosed in tomorrow’s newsletter.

Citi is global structuring agent and global coordinator, with Deutsche Bank and JP Morgan as joint active bookrunners.

TESTCustomwebLP TESTCustomwebLP
By TESTCustomwebLP TESTCustomwebLP May 14, 2015 13:10