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Borrowings from Secured and Unsecured Debt Financings
 12 Months Ended
Feb. 28, 2025
Debt Disclosure [Abstract]  
Borrowings from Secured and Unsecured Debt Financings Borrowings from Secured and Unsecured Debt Financings
The outstanding amounts of our secured and unsecured term debt financings were as follows:
 
At February 28, 2025
At
February 29, 2024
Debt ObligationOutstanding
Borrowings		Number of AircraftInterest RateFinal Stated
Maturity		Outstanding
Borrowings
Secured Debt Financings:
Term Financings(1)
$509,104 21
2.36% to 6.67%
11/21/29 to 06/27/32$883,451 
Less: Debt issuance costs(6,495)(8,054)
Total secured debt financings, net of debt issuance costs and discounts502,609 875,397 
Unsecured Debt Financings:
Senior Notes due 2024(2)
— 4.125%05/01/24500,000 
Senior Notes due 2025650,000 5.25%08/11/25650,000 
Senior Notes due 2026650,000 4.25%06/15/26650,000 
2.850% Senior Notes due 2028750,000 2.85%01/26/28750,000 
6.500% Senior Notes due 2028650,000 6.50%07/18/28650,000 
Senior Notes due 2029650,000 5.95%02/15/29650,000 
Senior Notes due 2030500,000 5.25%03/15/30— 
Senior Notes due 2031500,000 5.75%10/01/31— 
Revolving Credit Facilities150,000 
5.67% to 6.60%
05/24/25 to 02/08/2820,000 
Less: Debt issuance costs and discounts(47,219)(46,901)
Total unsecured debt financings, net of debt issuance costs and discounts4,452,781 3,823,099 
Total secured and unsecured debt financings, net of debt issuance costs and discounts$4,955,390 $4,698,496 
 
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(1)The borrowings under these financings at February 28, 2025 have a weighted-average fixed rate of interest of 5.85%.
(2)Repaid at their final stated maturity date.
Secured Debt Financings:
Term Financings
On August 28, 2024, we repaid in full the $206.3 million outstanding principal amount of one of our term financings secured by 8 aircraft, and $1.9 million of accrued interest. The secured term financing had a final stated maturity date of September 13, 2024, and we recognized a gain on the early extinguishment of debt of $0.3 million.
On December 27, 2024, we repaid in full the $60.6 million outstanding principal amount of one of our term financings secured by 7 aircraft, and $0.6 million of accrued interest, at its stated maturity date.
On February 28, 2025, we repaid in full the $79.7 million outstanding principal amount of one of our term financings secured by 3 aircraft, and $0.6 million of accrued interest. The secured term financing had a final stated maturity date of March 6, 2025.
Unsecured Debt Financings:
5.750% Senior Notes due 2031
On July 18, 2024, the Company and Aircastle (Ireland) Designated Activity Company (“AIDAC”), a wholly-owned subsidiary of the Company, issued $500.0 million aggregate principal amount of 5.750% Senior Notes due 2031 (the
“Senior Notes due 2031”) at an issue price of 99.64%. The Senior Notes due 2031 will mature on October 1, 2031, and bear interest at a rate of 5.75% per annum, payable semi-annually on April 1 and October 1 of each year, commencing on April 1, 2025. Interest accrues on the Senior Notes due 2031 from July 18, 2024.
5.250% Senior Notes due 2030
On January 31, 2025, the Company and AIDAC issued $500.0 million aggregate principal amount of 5.250% Senior Notes due 2030 (the “Senior Notes due 2030”) at an issue price of 99.171%. The Senior Notes due 2030 will mature on March 15, 2030, and bear interest at a rate of 5.25% per annum, payable semi-annually on March 15 and September 15 of each year, commencing on September 15, 2025. Interest accrues on the Senior Notes due 2030 from January 31, 2025.
Revolving Credit Facilities
As of February 28, 2025, we had $150.0 million in borrowings outstanding under our revolving credit facilities and had $2.0 billion available for borrowing.
AIDAC Guarantees
In connection with AIDAC co-issuing the Senior Notes due 2031 with the Company, AIDAC agreed to fully and unconditionally guarantee (the “AIDAC Guarantees”) the Company’s obligations under its: (i) revolving credit facilities; (ii) 5.250% Senior Notes due 2025; (iii) 4.250% Senior Notes due 2026; (iv) 2.850% Senior Notes due 2028; (v) 6.500% Senior Notes due 2028 and (vi) 5.950% Senior Notes due 2029 (collectively, the “Existing Unsecured Debt”). As a result of the AIDAC Guarantees, the Senior Notes due 2030 and the Senior Notes due 2031 rank pari passu in right of payment with the Existing Unsecured Debt.
Maturities of the secured and unsecured debt financings over the next five years and thereafter are as follows:
Year Ending February 28/29,Amount
2026$681,948 
2027703,818 
2028915,800 
20291,337,850 
2030269,708 
Thereafter1,099,980 
Total$5,009,104 
As of February 28, 2025, we were in compliance with all applicable covenants in our financings.