Jackson Square Aviation will raise $300 million in the private placement market, sources familiar with the deal tell FlightGlobal.

Joining a slew of lessors this year, the company is diversifying its funding sources with its first senior unsecured private placement.

The deal, which is rated "BBB+" by S&P Global, has seven-year and 10-year tranches, accounting for about one-third and two-thirds, respectively, of the $300 million.

FligthGlobal understands that the pricing is about 158 basis points above 10-year US Treasuries and that the investors are insurance companies seeking a longer maturity profile to better match their liabilities.

Citi and MUFG are arranging the deal.

Source: Cirium Dashboard