BNP Paribas and KGS Alpha underwrite third Eximbond for Atlas Air

London
Source: Flightglobal.com
This story is sourced from Flightglobal.com

Atlas Air priced and issued 12-year US Export-Import (Ex-Im) Bank bonds to re-finance another Boeing 747-8F aircraft, MSN 37571, with BNP Paribas and KGS Alpha Capital Markets the joint underwriters and bookrunners in the transaction.

The $143 million issuance was priced at midswap plus 55 basis points (bps) for a coupon of 1.562%, becoming the lowest coupon achieved on an Eximbond.

In the first half of 2012, Atlas Air achieved 2.018% coupon rate or mid-swap plus 75 bps n its first capital market transaction. In July the carrier refinanced another 747-8F at midswap plus 70bps for a coupon of 1.734%, becoming the lowest coupon achieved on an Ex-Im bond with a six-year average life.

Apple Bank for Savings, the arranging bank, originally financed the aircraft as part of an $865 million term-loan facility for six 747-8F deliveries to Atlas Air in 2012 and 2013.