Simpson Thacher is representing Citigroup Global Markets Inc., Goldman Sachs Bank USA and Goldman Sachs Lending Partners LLC in connection with a bridge term loan facility of up to $24 billion for AerCap Holdings N.V. (“AerCap”) to finance its announced acquisition of GE Capital Aviation Services (“GECAS”), valued at a total purchase price of approximately $30 billion. The transaction is expected to close in the fourth quarter of 2021, subject to the satisfaction of customary closing conditions and applicable regulatory approvals.
AerCap is the global leader in aircraft leasing. AerCap serves approximately 200 customers in approximately 80 countries with comprehensive fleet solutions. The combined company will be an industry leader across all areas of aviation leasing, with over 2,000 owned and managed aircraft, over 900 owned and managed engines, over 300 owned helicopters and approximately 300 customers around the world.
GECAS is a world-leading aviation lessor and financier. GECAS offers a broad array of financing products and services on aircraft, regional jets, turboprops, freighters, engines and helicopters, including operating leases, purchase/leasebacks, capital markets and airframe parts management. GECAS owns, services or has on order approximately 1,700 aircraft. GECAS serves over 200 customers in approximately 75 countries from a network of 15 offices around the world.
The Simpson Thacher team includes Patrick Ryan, Adam Moss, Remy Denner and James Crisp (Banking and Credit); David Azarkh and Lauren Maxfield (Capital Markets); Patrick Naughton (M&A); Jonathan Cantor and Brian Mendick (Tax); Larry Moss and Ashlie Lawton (Executive Compensation and Employee Benefits); and Michael Isby and Timothy Mulvihill (Environmental).