Hawaiian prices its EETC

Victoria
By Victoria May 15, 2013 13:36

Hawaiian prices its EETC

Hawaiian Airlines announced its first-ever offering of Enhanced Equipment Trust Certificates yesterday, that will be used to secure fixed, low-interest financing for the acquisition of six new Airbus A330 aircraft delivering over the next 18 months.
The financing is comprised of $328,260,000 of Class A Certificates, which will have an interest rate of 3.90% per annum and a final expected distribution date of January 15, 2026, and approximately $116,280,000 of Class B Certificates, which will have an interest rate of 4.95% per annum and a final expected distribution date of January 15, 2022. The Certificates are expected to be issued on May 29, 2013, subject to customary closing conditions.
Each class of Certificates represents an interest in its respective pass through trust. The trusts will use the proceeds from the offering to acquire equipment notes that will be issued by the Company to finance the acquisition of six Airbus A330-243 aircraft, which will be added to the Company’s fleet and are scheduled for delivery from November 2013 to October 2014.
The equipment notes will be secured by the six Airbus A330-243 aircraft being acquired. Hawaiian will fully and unconditionally guarantee the payment obligations of the Company under the equipment notes.
Citigroup Global Markets acted as structuring agent for the offering. Citigroup Global Markets, Goldman Sachs and Morgan Stanley acted as joint bookrunners for the offering.

Victoria
By Victoria May 15, 2013 13:36
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