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AerCap Holdings N.V. Buyback

OLI recorded this information on 3/7/2023

Company: AerCap Holdings N.V.
Buyback: AER buyback
Share Amount Authorized: 500,000,000
Buyback Details: AerCap Holdings N.V. ("AerCap" or the "Company") (NYSE: AER) today announced that GE Capital US Holdings, Inc. (the "Selling Shareholder"), a wholly owned subsidiary of General Electric Company, is offering 18,000,000 ordinary shares of AerCap through an underwritten public offering (the "Secondary Offering"). In addition, the Selling Shareholder expects to grant to the underwriters a 30-day option to purchase up to 2,700,000 additional ordinary shares from the Selling Shareholder. AerCap will not receive any proceeds from the sale of the ordinary shares. In addition, AerCap today announced that it has entered into an agreement with the Selling Shareholder (the "Repurchase Agreement") to repurchase $500 million of ordinary shares of AerCap at a price per ordinary share equal to the price per ordinary share to be paid by the underwriters to the Selling Shareholder in the Secondary Offering (the "Share Repurchase"). The Company intends to fund the Share Repurchase, which will be consummated pursuant to AerCap's previously announced share repurchase program, with cash on hand. The Company expects the closing of the Share Repurchase to occur substantially simultaneously with the closing of the Secondary Offering. The closing of the Share Repurchase is conditioned on the closing of the Secondary Offering. The closing of the Secondary Offering is not conditioned on the closing of the Share Repurchase.

AerCap Holdings is a holding company. Through its subsidiaries, Co. is engaged in aircraft leasing. Co. focuses on acquiring aircraft, funding them, hedging interest rate risk and using its platform to deploy these assets. Co. leases most of its aircraft to airlines under operating leases. Under these leases, the lessee is responsible for the maintenance and servicing of the equipment during the lease term and Co. receives the benefit, and assumes the risks, of the residual value of the equipment at the end of the lease. Co. provides aircraft and engine asset management and corporate services to securitization vehicles, joint ventures and other third parties.
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Company Name:  AerCap Holdings NV
Stock buyback:  AER buyback
Sector:  Airlines
Number of ETFs Holding AER:  31
Total Market Value Held by ETFs:  $148.56M
Total Market Capitalization:  $6.62B
% of Market Cap. Held by ETFs:  2.25%

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March 21, 2023    12:38 PM Eastern
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Strong Buy (4.00 out of 4)
99th percentile
(ranked higher than approx. 99% of all stocks covered)

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