AAR prices offering of $955 million of 7.125% senior notes due 2031 and $960 million of 7.375% senior notes due 2034
AAR CORP. priced a $1.915 billion senior notes offering: $955 million of 7.125% notes due 2031 and $960 million of 7.375% notes due 2034, expected to close November 17, 2026. Proceeds, together with a 2,215,791-share private placement and revolving credit borrowings, will fund the cash portion of the pending MRO Holdings acquisition, repay MRO's existing debt, and cover general corporate purposes. AAR will also issue equity with an agreed value of roughly $780.8 million as partial deal consideration.
Key figures
- Expected closing
- November 17, 2026
- Notes 2031 coupon
- 7.125%
- Notes 2034 coupon
- 7.375%
- Notes 2031 maturity
- November 15, 2031
- Notes 2034 maturity
- November 15, 2034
- Notes 2031 principal
- $955 million
- Notes 2034 principal
- $960 million
- Equity issuance value
- $780.8 million
- Private placement shares
- 2215791
AI analysis
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