AerCap announces 32.4M offering of ordinary shares for holders

AerCap Holdings (AER) announced that GE Capital US Holdings, a wholly owned subsidiary of General Electric Company (GE), is offering 32.4M ordinary shares of AerCap through an underwritten public offering. As part of the Secondary Offering, the company is proposing to purchase 12.15M of its ordinary shares from the underwriters, plus a corresponding amount of any additional shares purchased by the underwriters pursuant to the Option, at a price per ordinary share equal to the price at which the underwriters purchase the ordinary shares from the Selling Shareholder in the Secondary Offering. The company intends to fund the Share Repurchase, which will be consummated pursuant to, and count toward, AerCap’s previously announced share repurchase programs, with cash on hand. The underwriters will not receive any underwriting discount for the shares purchased by the company. Goldman Sachs & Co., Citigroup, Barclays, BofA Securities and J.P. Morgan are acting as joint bookrunning managers for the Secondary Offering.