Company: AYR
Filing Date: 2025-01-31
Form Type: 8-K
Source: 0001193125-25-018401
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Company: Aircastle LTD
Filing Date: 2025-01-31
Form: 8-K
Item: Item 1.01
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Item 1.01      Entry into a Material Definitive Agreement  

On January 31, 2025, Aircastle Limited (“ Aircastle”) and Aircastle (Ireland) Designated Activity Company, a wholly-owned subsidiary of Aircastle (together with Aircastle, the “ Issuers”), issued $500 million aggregate principal amount of the Issuers’ 5.250% Senior Notes due 2030 (the “ Notes”) pursuant to an Indenture, dated as of January 31, 2025 (the “ Indenture”), among the Issuers and Computershare Trust Company, N. A., as trustee for the Notes.

The Notes will mature on March 15, 2030. Interest on the Notes will be payable semi-annually in arrears on March 15 and September 15, beginning on September 15, 2025, at a rate of 5.250% per annum. The Issuers intend to use the net proceeds from the sale of the Notes for general corporate purposes, which may include the acquisition of aircraft, as well as refinancing a portion of the Issuers’ existing indebtedness.

Prior to February 15, 2030 (one month prior to maturity), the Issuers may redeem the Notes, in whole or in part, at any time and from time to time, by paying a specified “make-whole” premium, plus accrued and unpaid interest, if any, to, but not including, the redemption date. On and after February 15, 2030 (one month prior to maturity), the Issuers may redeem the Notes, in whole or in part, at any time and from time to time, at a redemption price of 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, to, but not including, the redemption date.

If a Change of Control Triggering Event (as defined in the Indenture) occurs, the Issuers will be required to make an offer to repurchase each holder’s Notes at a price of 101% of the aggregate principal amount thereof, plus accrued and unpaid interest, if any, to, but not including, the repurchase date.

The Indenture contains covenants that, among other things, restrict Aircastle and its subsidiaries’ (subject to certain exceptions) ability to incur liens that secure obligations under indebtedness for borrowed money or capitalized lease obligations. The Indenture also