AerCap continues GECAS acquisition funding round

AerCap is out with the next portion of its GECAS acquisition funding package with a $2bn secured term loan issued by indirect subsidiary Setanta Aircraft Leasing DAC (Setanta), which is fully guaranteed by AerCap Holdings. The credit facility is secured on a portfolio of aircraft comprised of 94 aircraft on lease to 35 lessees located in 25 countries, with the top five airline lessees accounting for a relatively high 59% of the pool, according to Fitch Ratings, which rates the facility as Baa2. Standard & Poor’s has assigned a BBB rating to the proposed facility. The aircraft pool includes 57%