By P.R. Venkat


China Aircraft Leasing Group is making a cash offer to buy back debt worth $300.0 million as part of its efforts to manage its capital structure.

The company plans to buy back $200.0 million of bonds due next year and carrying a 5.50% coupon, and another $100.0 million of notes also maturing in 2024 that provide a 4.85% coupon, it said Wednesday.

"The offers are being made as part of a proactive approach to manage the offeror's interest payments and its debt structure," China Aircraft Leasing said.

These bonds will be repurchased using the company's operating cash flows and existing cash on its balance sheet.

China Aircraft Leasing said that the offer period begins on Sept. 6 and ends Sept. 14, with an option to extend.

Mizuho Securities is the sole dealer manager for the tender offer.


Write to P.R. Venkat at venkat.pr@wsj.com


(END) Dow Jones Newswires

09-05-23 2044ET