Virgin Australia Celebrates EETC

Virgin Australia Holdings has become the first airline from the Asia-Pacific region to gain enhanced equipment trust certificates (EETC). The deal raised $776.1m and was oversubscribed 'multiple times', the airline said. Virgin Australia is also only the fourth non-US carrier to access the EETC market and it is the first time the carrier has accessed the international debt capital markets, its CFO, Sankar Narayan, said. The notes collateralised 24 aircraft from the airline's existing fleet and the weighted average coupon over the expected life of the notes is approximately 5.5 per cent. Proceeds from the issue will be used to repay existing financing facilities and for general corporate purposes. Goldman Sachs was sole structuring agent and lead bookrunner; Credit Agricole Securities and Natixis were joint bookrunners on the transaction.

TAGS: Asia Pacific
Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish