Exhibit 99.1
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PRESS RELEASE |
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FOR IMMEDIATE RELEASE
AerCap Holdings N.V. Announces $1bn Aircraft Securitisation
Amsterdam, Netherlands; June 26, 2008 - AerCap Holdings N.V. (the “Company” or “AerCap” (NYSE: AER)) announced today the closing of a $1 billion aircraft securitization through Aircraft Lease Securitisation II Limited (“ALS II”). The securitization will provide long term non recourse funding for 30 new A320 family aircraft (the “Aircraft”). The aircraft are part of a 70 aircraft order placed by AerVenture Limited, AerCap’s consolidated joint venture, in January 2006.
Transaction Structure
Each of the underwriting banks (the “Commitment Holders”) has committed to make advances to ALS II. The proceeds received by ALS II from the advances and the issuances of Class E Notes to the Seller as outlined below, will be used by ALS II to acquire the Aircraft which will be leased to customers of AerCap and AerVenture and to pay certain transaction expenses.
ALS II has issued Class A-1 Floating Rate Asset Backed Notes Series 2008-1 (the “Class A-1 Notes”) to the Commitment Holders evidencing their commitments and advances extended to ALS II. Each Class A-1 Note will have an initial outstanding principal balance of zero that will be increased as advances are made.
In addition, ALS II has also issued Class A-2 Floating Rate Asset Backed Notes Series 2008-1 (the “Class A-2 Notes”). The Class A-2 Notes will have an initial outstanding principal balance of zero until such time as a Class A-1 Note is exchanged for a Class A-2 Note. The Class A-1 Notes and the Class A-2 Notes will rank pari-passu and have substantially similar terms, but different transfer restrictions for securities law purposes. The aggregate outstanding principal balance of the Class A-1 Notes and the Class A-2 Notes will not exceed $1.0 billion.
ALS II also issued Class E-1 Fixed Rate Deferrable Interest Asset Backed Notes Series 2008-1 (the “Class E Notes”) to AerVenture Leasing 1 Limited, a subsidiary of AerVenture Limited (the “Seller”) and will issue Class E Notes in connection with the purchase of Aircraft.
The Class A-1 Notes, Class A-2 Notes and Class E-Notes (the “Notes”) may be offered to qualified institutional buyers under Rule 144A, institutional accredited investors and to persons outside the United States under Regulation S. The Notes will not be registered under the United States Securities Act of 1933, as amended (“the Securities Act”), and, unless so registered, may not be offered or sold in the United States except pursuant to an