US Ex-Im backed PFN bonds oversubscribed at record low spreads
Aviation Capital Group and Ryanair have just issued Ex-Im backed bonds at historically low spreads. LCC Ryanair firstly showed its debt markets prowess by issuing bonds at a new low rate on September 6th and then this week Newport Beach-based lessor ACG went even lower. Both the low spreads and the oversubscription that both issuances of the pre funded notes (PFNs) met (respectively 3 and 4.7 times), shows the success of a product that provides an enhanced return over US Treasurys, with the backing of the United States Government - a 'nobrainer' that Ryanair, ACG, and earlier, Lan Airlines were happy to exploit.

Subscribe to (or Renew) Aviation Finance

At an annual cost of just €220 (or USD/GBP/CNY equivalent), less than €9 or $10 per issue, a subscriber gets:

1. A fortnightly E-zine distributed on pc/mobile/tablet platforms with unique commentary and analysis by the global industry thought leaders on the most important issues affecting the financing of commercial aircraft and airlines

2. 24/7 access to aviationfinance.aero with over 1,000 archived articles written since 2011 providing an encyclopedic insight to the aircraft finance and leasing sector

AviationFinance.aero is the lowest cost provider of subscription-only analysis of aircraft financing and provides investors and executives in the OEM, airline, investment, banking, leasing, airport and aviation services industries with unique insights into opportunitites in the global aviation complex. Your one year subscription (25 issues) will include full access to all articles and information services on the website and the publication circulated by email to subscribers every second Thursday.

Enter your email address in the box and the subsequent steps will enable you to subscribe or renew your subscription securely without delay, providing you with immediate access to Aviation Finance and aviationfinance.aero.

Low Risk Trial: Our low risk subscription Guarantee enables you to cancel at any time during your annual subscription year and reclaim the unexpired portion of your subscription.

Login

If you are already a subscriber Login here. You can change your Login password by clicking the 'My Details' option in the dropdown menu (which appears when you are logged in) at any time to an easily remembered word or combination of your choice. You can change it whenever you wish by following the instructions in the dropdown. (If you have forgotten your password click here to retrieve your password.)

Subscribe


Your Details