ATSG to raise $200 million
25 / 09 / 2017
Leasing and airfreight transport firm Air Transport Services Group is to offer $200 million-worth of convertible senior notes to institutional buyers. Final terms, including initial price and other terms will be determined at the time of pricing. The notes will mature in October 2024.
The company also expects to grant the initial purchasers a 30-day option to purchase up to $30 million worth of notes.
Earlier this month, ATSG, which leases freighter aircraft to Amazon,reported adjusted earnings from continuing operations (excluding non-cash warrant-related items) up 64% at $13.9m for the quarter ended June 30.
President and chief executive, Joe Hete, said the company would shortly deliver its 20th leased Boeing 767 freighter to Amazon, 17 months after it formalised its relationship with the online retailer in March 2016.