Air Canada bares pricing of private offering

Air Canada
Photo: Air Canada

(From Air Canada)

MONTRÉAL — Air Canada announced today the pricing of a private offering of two tranches of enhanced equipment trust certificates (the “Certificates”) denominated in Canadian dollars.

The two tranches of Certificates, which have been rated, have a combined aggregate face amount of approximately $301 million and a weighted average interest rate of 3.76 percent.

The private offering is comprised of Class A certificates and Class B certificates. The Class A certificates will have an interest rate of 3.67 percent per annum and the Class B certificates will have an interest rate of 4.19 percent per annum.

“This Canadian dollar private offering of Enhanced Equipment Trust Certificates has terms and conditions comparable to our U.S. dollar 2017-1 Series EETC transaction,” said Michael Rousseau, Executive Vice President and Chief Financial Officer.

“Our ability to conclude an EETC transaction in Canadian dollars is an important development for us as it represents new opportunities for future aircraft financings and contributes to lowering the overall cost of debt and risk profile of the company.” (Full Story Here)


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