AAR CORP. (AIR) Plans to Offer $175 Million of Senior Unsecured Notes
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Price: $134.82 +1.84%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 1.7%
Revenue Growth %: +19.2%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 1.7%
Revenue Growth %: +19.2%
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AAR CORP. (NYSE: AIR) announced today that it intends to commence an offering of $175,000,000 in aggregate principal amount of senior unsecured notes due 2022 in a private placement to eligible purchasers. The Notes will be senior obligations of AAR CORP.and will be guaranteed by the Company's existing domestic subsidiaries.
The Company intends to use the proceeds of this offering to repay a portion of the borrowings incurred under its revolving credit agreement to purchase Telair International and Nordisk Aviation on December 2, 2011 and to pay fees and expenses of the offering.
The Company intends to use the proceeds of this offering to repay a portion of the borrowings incurred under its revolving credit agreement to purchase Telair International and Nordisk Aviation on December 2, 2011 and to pay fees and expenses of the offering.
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