AerCap’s $239 Million Ordinary Shares Offering


Simpson Thacher represented Citigroup Global Markets Inc., as underwriter, in connection with the registered public offering.

AerCap Holdings N.V. completed the underwritten secondary offering by Waha AC Coöperatief U.A., a wholly owned subsidiary of Waha Capital PJSC, and Avia Holding Limited, a wholly owned subsidiary of Waha Capital, of 4,000,000 AerCap ordinary shares.

A total of approximately $239 million of proceeds before expenses were raised in the offering. Affiliates of Waha Capital PJSC received all of the proceeds from the offering.

Simpson Thacher also represented Nomura International plc and Citibank N.A., London Branch, among others, as collar counterparites, in connection with the contemporaneous termination of funded collar transactions previously entered into with affiliates of Waha relating to the AerCap ordinary shares sold in the offering.

AerCap is the global leader in aircraft leasing with 1,360 aircraft owned, managed or on order and $43.5 billion of total assets as of September 30, 2019. AerCap serves approximately 200 customers in approximately 80 countries with comprehensive fleet solutions. AerCap has its headquarters in Dublin with offices in Shannon, Los Angeles, Singapore, Amsterdam, Shanghai, Abu Dhabi, Seattle and Toulouse.

The Simpson Thacher team for the transaction included David Azarkh (Picture) and John O’Connell (Capital Markets); Jonathan Lindabury and Nathan Utterback (Derivatives); Jonathan Cantor and Brian Mendick (Tax); Michael Isby (Environmental); Larry Moss and Eric Wolf (Executive Compensation and Employee Benefits); and Jennie Getsin (FINRA and Blue Sky).

Involved fees earner: David Azarkh – Simpson Thacher & Bartlett; Jonathan Cantor – Simpson Thacher & Bartlett; Jennie Getsin – Simpson Thacher & Bartlett; Michael Isby – Simpson Thacher & Bartlett; Jonathan Lindabury – Simpson Thacher & Bartlett; Brian Mendick – Simpson Thacher & Bartlett; Laurence Moss – Simpson Thacher & Bartlett; John O’Connell – Simpson Thacher & Bartlett; Nathan Utterback – Simpson Thacher & Bartlett; Eric Wolf – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Citibank; Citigroup Global Markets Ltd; Nomura International plc;