AerCap announces offering of 26.72M ordinary shares for holders

AerCap Holdings announced that GE Capital US Holdings, a wholly owned subsidiary of General Electric Company, is offering 26.72M ordinary shares of AerCap through an underwritten public offering. As part of the offering, the company is proposing to purchase approximately $500M of its ordinary shares from the underwriters 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, Deutsche Bank Securities, BNP PARIBAS, BofA Securities and J.P. Morgan are acting as joint bookrunning managers for the secondary offering.