TrueNoord Secures $400 Million in Senior Unsecured Notes for Future Growth
TrueNoord Limited, the renowned specialist regional aircraft lessor, recently reached a significant milestone by successfully pricing $400 million in senior unsecured notes. These notes, with an interest rate of 8.750%, are due in 2030 and were offered through TrueNoord's wholly owned subsidiary, TrueNoord Capital Designated Activity Company. The pricing of these notes marks a significant advancement in the company's long-term financial strategy.
The issue’s proceeds are earmarked for multiple strategic financial moves. A significant portion will be utilized to prepay existing debt, while the remaining funds will contribute to general corporate purposes, including investments in aircraft assets. These notes are expected to be issued around February 13, 2025, pending customary closing conditions.
Anne-Bart Tieleman, the Chief Executive Officer of TrueNoord, expressed enthusiasm for the issuance, highlighting its importance in enhancing the company's financial stability and flexibility. Tieleman stated, "This inaugural senior unsecured notes issuance marks a significant milestone in TrueNoord's long-term strategy. The success of this issuance increases our cash flow and operational flexibility, and reflects the strength of our business and the confidence of the markets. It positions us for continued growth and enhances our ability to provide fleet solutions to our expanding customer base of respected airlines."
Adding to this, Paul Murphy, TrueNoord's Chief Financial Officer, emphasized the strong support from investors, which validates the company's transition to a primarily unsecured capital structure. He noted that this new funding approach is projected to promote growth for TrueNoord amid evolving market dynamics.
TrueNoord's innovative approach to aircraft leasing caters to airlines globally, providing essential leasing, financing, and asset management services for regional aircraft with a seating capacity between 50 to 150. As the market for regional aviation continues to evolve, TrueNoord’s strategic financial decisions position it well for future opportunities, enabling it to respond to market demands with increased agility and resource allocation.
It's also crucial to note that the secured notes and related guarantees will not be registered under U.S. securities laws, thus limiting their sale to specific exempt transactions. As a company committed to transparency and growth, TrueNoord aims to communicate effectively with stakeholders regarding this strategic financial move.
With this robust financial strategy in place, TrueNoord is set on a promising path toward reinforcing its position as a leader in the regional aircraft leasing sector. The successful pricing of these senior unsecured notes showcases the confidence of the market in TrueNoord’s operational capabilities and its strategic vision for the future.
The issue’s proceeds are earmarked for multiple strategic financial moves. A significant portion will be utilized to prepay existing debt, while the remaining funds will contribute to general corporate purposes, including investments in aircraft assets. These notes are expected to be issued around February 13, 2025, pending customary closing conditions.
Anne-Bart Tieleman, the Chief Executive Officer of TrueNoord, expressed enthusiasm for the issuance, highlighting its importance in enhancing the company's financial stability and flexibility. Tieleman stated, "This inaugural senior unsecured notes issuance marks a significant milestone in TrueNoord's long-term strategy. The success of this issuance increases our cash flow and operational flexibility, and reflects the strength of our business and the confidence of the markets. It positions us for continued growth and enhances our ability to provide fleet solutions to our expanding customer base of respected airlines."
Adding to this, Paul Murphy, TrueNoord's Chief Financial Officer, emphasized the strong support from investors, which validates the company's transition to a primarily unsecured capital structure. He noted that this new funding approach is projected to promote growth for TrueNoord amid evolving market dynamics.
TrueNoord's innovative approach to aircraft leasing caters to airlines globally, providing essential leasing, financing, and asset management services for regional aircraft with a seating capacity between 50 to 150. As the market for regional aviation continues to evolve, TrueNoord’s strategic financial decisions position it well for future opportunities, enabling it to respond to market demands with increased agility and resource allocation.
It's also crucial to note that the secured notes and related guarantees will not be registered under U.S. securities laws, thus limiting their sale to specific exempt transactions. As a company committed to transparency and growth, TrueNoord aims to communicate effectively with stakeholders regarding this strategic financial move.
With this robust financial strategy in place, TrueNoord is set on a promising path toward reinforcing its position as a leader in the regional aircraft leasing sector. The successful pricing of these senior unsecured notes showcases the confidence of the market in TrueNoord’s operational capabilities and its strategic vision for the future.
Topics Financial Services & Investing）
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