BB&T Capital Markets Serves as an Underwriter on Atlas Air Worldwide Holdings, Inc.’s Convertible Notes Offering
BB&T Capital Markets’ Logistics & Transportation Group completed a transaction for a leading global airfreight provider in the second quarter of 2015, helping to raise $200 million for our client.
The Company intends to use the net proceeds of the offering primarily to refinance certain equipment notes, to fund the cost of the convertible note hedge transactions, for working capital and capital expenditures, repayment or refinancing of debt, and for general corporate purposes. The Company has granted the underwriters a 13-day option to purchase an additional $30 million aggregate principal amount of notes from the company, solely to cover over-allotments.
About the Companies
Atlas Air Worldwide Holdings, Inc. is the parent company of Atlas Air, Inc., and Polar Air Cargo, Inc. Atlas provides aircraft, crew, maintenance, and insurance freighter aircraft to major airlines around the world. Polar operates a global, scheduled-service network and serves substantially all major trade lanes of the world. The Company also provides commercial and military charter services.
Logistics & Transportation Services
BB&T Capital Markets' Logistics & Transportation Group provides M&A, capital raising and corporate banking services to companies in the logistics and transportation industry, including third-party logistics providers (freight forwarding, contract warehousing, truck brokerage), trucking (truckload and LTL), marine transportation (inland barge and international shipping), railroads, transportation equipment and waste services. BB&T’s Logistics & Transportation Corporate Banking Team manages in excess of $2.1 billion of assets, comprised by more than 50 industry relationships. The team specializes in delivering corporate finance and equipment finance solutions to industry participants spread across all sectors of the transportation industry.
About BB&T Capital Markets
BB&T Capital Markets offers an integrated platform of equity and debt underwriting, M&A advisory, corporate banking, and sales and trading. Headquartered in Richmond, VA, with offices throughout the US, we have specific expertise within 10 distinct industry verticals including Automotive Aftermarket; Commercial & Industrial; Education; Energy; Financial Services; Food & Agribusiness; Healthcare; Logistics & Transportation Services; Real Estate; and Retail & Consumer. Our commitment to industry expertise, combined with our resources as one of the nation's strongest financial institutions, strategically positions BB&T Capital Markets to build lasting relationships and contribute measurably to the long-term success of our clients.