Waha to enter into funded collar transactions relating to AerCap ordinary shares and to offer AerCap ordinary shares for resale

Dino D'Amore
By Dino D'Amore December 2, 2014 22:26

Waha to enter into funded collar transactions relating to AerCap ordinary shares and to offer AerCap ordinary shares for resale

AerCap has announced the offering of 14,923,305 of its ordinary shares held by Waha AC Coöperatief U.A., an investment vehicle affiliated with Waha Capital.

AerCap has been advised that Waha proposes to enter into funded collar transactions relating to a portion of the AerCap ordinary shares held by Waha with each of Citibank NA, London Branch, Deutsche Bank AG, London Branch, and UBS AG, London Branch and/or their respective affiliates (the “collar counterparties”) and to sell outright another portion of the AerCap ordinary shares held by it.  AerCap has been advised that in order to hedge their obligations under the funded collar transactions, the collar counterparties or their affiliates will borrow 11,923,305 ordinary shares from Waha, and the collar counterparties or their affiliates will sell them as described below.  AerCap will not receive any proceeds from the sale of the ordinary shares by the collar counterparties or their affiliates, nor will AerCap issue any new ordinary shares in connection with these transactions.

AerCap has been advised that an aggregate of 11,233,152 ordinary shares will be sold in an underwritten offering through Deutsche Bank Securities, acting as underwriter, 8,233,152 of which will be sold by the collar counterparties and 3,000,000 of which will be sold by Waha.  Also, AerCap has been advised that 3,690,153 ordinary shares will be sold by the collar counterparties or their affiliates or agents, which may include the underwriter or its affiliate, from time to time, pursuant to block sales, on the NYSE, in the over-the-counter market or in negotiated transactions.  AerCap has been advised that, over the same period when the collar counterparties or their affiliates or such agents sell the additional shares, they expect to purchase an equal number of ordinary shares in the open market.

The funded collar transactions described above are being entered into by Waha with the collar counterparties.  AerCap is registering the offer and sale of the ordinary shares pursuant to a Registration Rights Agreement between AerCap and Waha.

Dino D'Amore
By Dino D'Amore December 2, 2014 22:26