GE Capital US Holdings, a subsidiary of General Electric Company, plans to sell 26,721,633 ordinary shares of AerCap through an underwritten public offering, with an option to sell an additional 4,008,245 shares.
Dublin-headquartered lessor AerCap will not receive any proceeds from the sale of the shares, as all the proceeds will go to the selling shareholder.
As part of the secondary offering, AerCap intends to purchase approximately $500m of its own ordinary shares from the underwriters at the same price at which the underwriters purchase shares from the selling shareholder.
The share repurchase will be funded using cash on hand and will count toward AerCap’s previously announced share repurchase programs.
Goldman Sachs, Citigroup, Deutsche Bank Securities, BNP PARIBAS, BofA Securities, and J.P. Morgan are acting as joint bookrunning managers for the secondary offering.
AerCap extensive order book has 1,700 aircraft, 1,000 engines and 300 helicopters on lease to 300 aviation customers worldwide.
