Aviation Capital Group, an aircraft asset manager, closed a sale of $1 billion aggregate principal amount of 5.5% senior unsecured notes due 2024. The company intends to use the net proceeds from the notes for general corporate purposes, including repayment of outstanding indebtedness and the purchase of commercial aircraft. The notes are recourse only to Aviation Capital Group and are not guaranteed by its parent company, any of its subsidiaries or any third party.

Aviation Capital Group has approximately 500 owned, managed and committed aircraft as of March 31, 2020, which are leased to approximately 90 airlines in approximately 45 countries. It is a wholly-owned subsidiary of Tokyo Century.