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2016 Aug 24

Waha Capital extends maturity of collar hedges on c. 4 million AerCap shares

Abu Dhabi, 24 August 2016 -- Waha Capital, a leading Abu Dhabi-based investment company, has extended the maturity of its collar hedges over c. 4 million shares it owns in New York-listed AerCap Holdings N.V.

This extension forms part of the Company’s wider hedging and financing strategy over its shares in AerCap. This strategy, which limits downside equity market risk for Waha Capital, was originally implemented over c. 26.8 million AerCap shares in several tranches in late 2014. These original collar hedges allowed Waha Capital to raise significant capital against its holding in AerCap which has been employed to implement its growth strategy, including expanding its asset management business.

The company is now extending maturity of one of its tranches maturing at the end of September for an additional 24 months approximately. After the extension of this tranche, Waha Capital has locked in the value of its AerCap shares subject to the collar hedges at an average minimum price of $39.69 per share, whilst allowing for future upside participation up to an average maximum price of $57.88 per share.

In addition to its stake in AerCap, Waha Capital invests in healthcare, energy, financial services, infrastructure and other high-potential sectors in the MENA region. The company’s asset management business is offering credit, equity and private equity funds to third-party investors.

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