LIMERICK, Ireland, Nov. 27, 2006 (PRIME NEWSWIRE) -- Genesis Lease Limited ("Genesis") announced today that it has filed a registration statement on Form F-1 with the Securities and Exchange Commission in connection with its planned initial public offering of 27,860,000 common shares in the form of American Depositary Shares ("ADSs"). Genesis also granted the underwriters an option to purchase up to 4,179,000 additional ADSs to cover over-allotments. The ADSs have been approved for listing, subject to official notice of issuance, on the New York Stock Exchange under the symbol "GLS".
Genesis is a newly organized company formed to acquire and lease commercial jet aircraft and other aviation assets. Genesis intends to leverage the worldwide platform of GE Commercial Aviation Services Limited, or GECAS, to service its portfolio of leases, allowing management to focus on executing its growth strategy. Genesis intends to use the proceeds of the initial public offering to acquire a portfolio of 41 commercial jet aircraft from affiliates of GE.
Citigroup Global Markets Inc. is the Global Coordinator for the offering. The offering will be book-run by Citigroup Global Markets Inc. and J.P. Morgan Securities Inc.
A copy of the prospectus relating to these securities may be obtained when available from Citigroup Corporate and Investment Banking, Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220, (Tel: 718-765-6732), or JPMorgan, Prospectus Library, 4 Chase Metrotech Center, CS Level, Brooklyn, NY 11245, (Tel: 718-242-8002).
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet been declared effective. These securities may not be sold nor may offers to buy be accepted prior to the time that the registration statement becomes effective.
This release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
For further information about Genesis Lease Limited, please visit www.genesislease.com or contact:
Company Contact: John McMahon Genesis Lease Limited Chief Executive Officer Roselawn House, University Business Complex Tel: +1-914-595-4874 National Technology Park john.mcmahon@genesislease.com Limerick, Ireland
Statements in this press release may be forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause the outcome to be materially different.