Financial Services

In February 2024, KeyBanc Capital Markets (KBCM) successfully closed on $350 million of Senior Notes due in 2027 for GATX Corporation (GATX or the Company). KBCM acted as Senior Co-Manager on the transaction.

GATX is a leading global railcar lessor, owning fleets in North America, Europe, and Asia. The Company operates the largest fleet of U.S. flagged vessels on the Great Lakes and co-owns one of the largest aircraft spare engine lease portfolios in the world.

In January 2024, KeyBanc Capital Markets (KBCM) successfully closed on $350 million in Senior Secured Notes due in 2028 and $300 million in Senior Secured Notes due in 2034 for Private Export Funding Corporation (PEFCO or the Company). KBCM acted as Active Joint Bookrunner on the transaction.

PEFCO is principally engaged in making U.S. dollar loans to foreign importers to finance purchases of U.S. goods and services. The Company was established by a group of U.S. financial institutions with the support of the U.S. Treasury, the Federal Reserve, and the Export Import Bank of the United States (Ex-Im Bank) to assist in the financing of U.S. exports through the mobilization of private capital as a supplement to the financing already available through Ex-Im Bank.

In January 2024, KeyBanc Capital Markets (KBCM) successfully closed on $300 million (upsized by $100 million) in Add-On Senior Notes due in 2029 for Bread Financial Holdings, Inc. (BFH or the Company). KBCM acted as Joint Bookrunner on the transaction.

BFH is a tech-forward financial services company that provides simple, personalized payment, lending, and saving solutions. The Company's primary product offerings consist of (i) private label and co-brand credit card programs with retailers and other brand partners, (ii) Bread Cashback^TM products, (iii) Bread Pay^TM products, and (iv) Bread Savings^TM products. The Company’s partner base consists of large consumer-based businesses, including well-known brands such as AAA, Academy Sports Outdoors, Caesars, Michaels, the NFL, Signet, Ulta, and Victoria’s Secret, as well as small- and medium-sized businesses (SMBs).

In January 2024, KeyBanc Capital Markets (KBCM) successfully closed on $500 million in Senior Notes due in 2029 for Air Lease Corporation (Air Lease or the Company). KBCM acted as Joint Bookrunner on the transaction.

Air Lease is a leading aircraft leasing company engaged in purchasing new commercial jet transport aircraft directly from aircraft manufacturers and leasing aircraft to airlines throughout the world. The Company also sells aircraft from its operating lease portfolio to third parties.

In December 2023, KeyBanc Capital Markets (KBCM) successfully closed on $400 million of Add-On Senior Notes due in 2028 for Avolon Holdings Funding Limited (Avolon or the Company). KBCM acted as Joint Bookrunner on the transaction.

Avolon is a leading global aircraft leasing company focused on acquiring, managing, leasing, and selling commercial aircraft. The Company is headquartered in Ireland, with offices in the United States, the United Arab Emirates, Singapore, Hong Kong, and China. As of September 30, 2023, Avolon’s owned, managed, and committed portfolios consisted of 897 aircraft, including 524 aircraft in its owned portfolio, 44 aircraft in its managed portfolio and 329 aircraft in its committed portfolio. As of September 30, 2023, Avolon’s owned and committed portfolios had a fleet valuation of $47.1 billion.

In December 2023, KeyBanc Capital Markets acted as Joint Bookrunner on Bread Financial Holdings, Inc.’s (BFH or the Company) offering of $600 million (upsized by $100 million) Senior Notes due in 2029. Proceeds from the offering will be used to repay in full the 4.750% Senior Notes due 2024, and the existing Term Loan Facility.

Bread Financial Holdings is a tech-forward financial services company providing simple, personalized payment, lending, and saving solutions. The Company creates opportunities for its customers and partners through digitally enabled choices that offer ease, empowerment, financial flexibility, and exceptional customer experiences. Driven by a digital-first approach, data insights, and white-label technology, BFH delivers growth for its partners through a comprehensive product suite, including private label and co-brand credit cards, installment lending, and buy now, pay later (BNPL). The Company also offers direct-to-consumer solutions that give customers more access, choice, and freedom through its branded Bread Cashback American Express credit card and Bread Savings products.

In October 2023, KeyBanc Capital Markets (KBCM) successfully closed on $400 million of Senior Notes due in 2034 for GATX Corporation (GATX or the Company). KBCM acted as Senior Co-Manager on the transaction.

GATX is a leading global railcar lessor, owning fleets in North America, Europe, and Asia. The Company operates the largest fleet of U.S. flagged vessels on the Great Lakes and co-owns one of the largest aircraft spare engine lease portfolios in the world.

On September 27, 2023, KeyBanc Capital Markets (KBCM) successfully closed on the syndication of a $500 million, 364-day Revolving Credit Facility for Wilton Re Ltd. (Wilton Re or the Company). KBCM acted as Joint Lead Arranger, Joint Bookrunner, and Co-Syndication Agent on the transaction.

Headquartered in Nova Scotia, Canada, Wilton Re is a leading private life reinsurance company that specializes in the acquisition of in-force life insurance and annuities. The Company offers traditional life reinsurance products, simplified issue products, runoff solutions, and longevity solutions. Wilton Re conducts operations through subsidiaries in Canada, Bermuda, and the U.S., and is owned by the Canadian Pension Plan Investment Board, the investment arm of one of the largest pension funds in the world.

In September 2023, KeyBanc Capital Markets (KBCM) successfully closed on $900 million of Senior Notes due in 2027 and $850 million in Senior Notes due  in2030 for AerCap Ireland Capital DAC/AerCap Global Aviation Trust (AerCap or the Company). KBCM acted as Joint Bookrunner on the transaction.

AerCap is a global leader in aviation leasing with a portfolio consisting of 3,467 aircraft, engines, and helicopters that were owned, on order, or managed as of June 30, 2023. The Company provides a wide range of assets for lease, including narrowbody and widebody aircraft, regional jets, freighters, engines, and helicopters.

On July 7, 2023, KeyBanc Capital Markets (KBCM) successfully closed the syndication of $315 million in Senior Revolving Credit Facilities (the Credit Facilities) for James River Group Holdings, Ltd. (James River or the Company). The Credit Facilities are composed of a $102.5 million Secured Revolving Credit Facility and a $212.5 million Unsecured Revolving Credit Facility. Proceeds from the Credit Facilities will be used to refinance existing indebtedness, support the Company’s ongoing working capital needs, and for general corporate purposes. KBCM acted as Left Lead Arranger, Joint Bookrunner, and Administrative Agent on the transaction.

James River is a Bermuda-based holding company whose subsidiaries include a Bermuda-based reinsurer and five property casualty insurance companies domiciled in the United States. The Company’s three major operating segments are Excess Surplus, Casualty Reinsurance, and Specialty Admitted.

On June 8, 2023, KeyBanc Capital Markets (KBCM) successfully closed on $275 million of Convertible Senior Notes due 2028 for Bread Financial Holdings, Inc. (Bread or the Company). KBCM acted as Joint Bookrunner on the transaction.

Bread Financial Holdings is a tech-forward financial services company providing simple, personalized payment, lending, and saving solutions. The Company creates opportunities for its customers and partners through digitally enabled choices that offer ease, empowerment, financial flexibility, and exceptional customer experiences. Driven by a digital-first approach, data insights, and white-label technology, BFH delivers growth for its partners through a comprehensive product suite, including private label and co-brand credit cards, installment lending, and buy now, pay later (BNPL). The Company also offers direct-to-consumer solutions that give customers more access, choice, and freedom through its branded Bread Cashback American Express credit card and Bread Savings products.

In May 2023, KeyBanc Capital Markets (KBCM) successfully closed on $750 million of Senior Notes due in 2028 for Avolon Holdings Funding Limited (Avolon or the Company). KBCM acted as Joint Bookrunner on the transaction.

Avolon is a leading global aircraft leasing company focused on acquiring, managing, leasing, and selling commercial aircraft. The Company is headquartered in Ireland, with offices in the United States, the United Arab Emirates, Singapore, Hong Kong, and China. As of September 30, 2023, Avolon’s owned, managed, and committed portfolios consisted of 897 aircraft, including 524 aircraft in its owned portfolio, 44 aircraft in its managed portfolio and 329 aircraft in its committed portfolio. As of September 30, 2023, Avolon’s owned and committed portfolios had a fleet valuation of $47.1 billion.