Nordic Aviation Capital (NAC) has successfully completed its third Senior Unsecured Private Placement issuance. The issuance was launched at US$250 million and was substantially oversubscribed allowing NAC to source a total of US$786.25 million.
The new transaction consists of five and seven year tranches, with the proceeds being used to refinance aircraft within NAC’s portfolio. They will rank pari passu with all other unsecured indebtedness of the issuer, a wholly-owned subsidiary of NAC. This private placement issuance is a landmark transaction for the 29-year-old company and a further significant step in migrating to unsecured financing.
