Firm Guides Griffin on $400M of Unsecured Notes Offering

October 2024 — Hughes Hubbard represented Griffin Global Asset Management on the closing of an offering of an aggregate principal amount of $400 million of senior unsecured notes priced at par by GGAM Finance, a subsidiary of Griffin Global Asset Management Holdings.

The offering comprises $400 million of 5.875% senior unsecured notes due 2030, which will be guaranteed by Griffin Global Asset Management Holdings 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 and the future repayment of outstanding indebtedness.

GGAM Finance has now completed five issuances of senior unsecured notes for an aggregate of $2.5 billion in under 18 months. The firm most recently represented Griffin on another $400 million unsecured notes offering in April.

Established in 2020, Griffin is a commercial aircraft leasing and alternative asset management business with offices in Ireland, Los Angeles and Puerto Rico. The company's team of aviation professionals works closely with airlines, aircraft manufacturers and financiers to deliver customized fleet solutions and innovative financing products to airlines globally.

Terry Sanders led the Hughes Hubbard team with primary assistance from Jenny Graham, Andrew Fowler, Michael Clare and Lea Jiang. Other members of the team included Steve Chung, Alan Kravitz, Charlie Wachsstock, Peter Shaker and Justine Yoon.