Waha extends collar hedges in AerCap shares

ABU DHABI: Abu Dhabi investment firm Waha Capital said on Wednesday it had extended the maturity of its collar hedges over about 4 million shares which it owns in New York-listed aircraft leaser AerCap Holdings.

Waha, which owns 16.4 percent of AerCap, originally used the hedging strategy for 26.8 million AerCap shares in several tranches in late 2014. It is now extending the maturity of one of the tranches maturing at end-September for an additional period of about 24 months.

The extension means Waha has locked in the value of its AerCap shares subject to the collar hedges at an average minimum price of $39.69 (Dh145.78) per share, while allowing for future upside up to an average maximum of $57.88, it said. The shares last traded at $39.50. (Reuters)