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Dublin, Ireland – September 24, 2024– Griffin Global Asset Management (“Griffin”) announces the successful closing by GGAM Finance Ltd. of an offering of an aggregate principal amount of $400 million senior unsecured notes. The notes were priced at par.

The offering comprises $400 million of 5.875% senior unsecured notes due 2030 (the “Notes”). The Notes will be guaranteed by Griffin Global Asset Management Holdings, Ltd. and certain of its subsidiaries. Proceeds from the issuance will be used for general corporate purposes, which may include financing the acquisition of new aircraft deliveries and the future repayment of outstanding indebtedness.

John Beekman, Griffin CFO, commented: “We are delighted to announce the closing of our latest unsecured notes offering. This issuance reaffirms our unwavering commitment to the unsecured capital markets and brings our total volume of unsecured notes issued to $2.5 billion in under 18 months. With the issuance of these notes we also disclosed that our secured warehouse was previously reduced to zero, which means inclusive of this issuance we currently have a fully unsecured balance sheet. We are grateful to our expanding investor base for the support they have shown us as we continue along our path to achieving investment grade ratings.”

The Notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or the securities laws of any jurisdiction and may be offered or sold only in a transaction exempt from, or not subject to, the registration requirements of the Securities Act. The Notes were offered and sold only to qualified institutional buyers in reliance on Rule 144A under the Securities Act and outside the United States to non-U.S. persons in offshore transactions in reliance on Regulation S under the Securities Act.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes, nor shall there be any sale of the Notes in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. 

Forward Looking Statements

This press release may contain forward-looking statements that involve substantial risks and uncertainties. You can identify these statements by the use of forward-looking terminology such as “may,” “will,” “should,” “expect,” “anticipate,” “project,” “estimate,” “intend,” “continue” or “believe” or the negatives thereof or other variations thereon or comparable terminology. You should read statements that contain these words carefully because they discuss our plans, strategies, prospects and expectations concerning our business, operating results, financial condition and other similar matters. We believe that it is important to communicate our future expectations to our investors. There may be events in the future, however, that we are not able to predict accurately or control. Any forward-looking statement made by us in this press release speaks only as of the date on which we make it. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

About Griffin Global Asset Management

Griffin is a commercial aircraft leasing and alternative asset management business with offices in Dublin, Ireland, Puerto Rico, and Los Angeles, CA.  Griffin’s team of professionals works closely with airlines, manufacturers, maintenance providers, and financiers to deliver innovative capital solutions globally.

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