Abu Dhabi-Mubasher: Waha Capital extended the maturity of its collar hedges over 4 million shares in AerCap Holdings, according to a press release.
This extension is part of Waha’s strategy which limits downside equity market risk for Waha and was originally implemented over 26.8 million of AerCap’s shares in several tranches in late 2014.
Such transaction allowed Waha to raise significant capital against its stake in AerCap which has been employed to implement its growth strategy, including expanding its asset management business
The company is now extending the maturity of one of its tranches due by the end of September for an additional 24 months approximately.
“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,” the statement noted.
