| Schedule of indebtedness |
The following table provides a summary of our indebtedness as of June 30, 2021 and December 31, 2020:
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June 30, 2021 |
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December 31, 2020 |
| Debt obligation |
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Collateral (Number of
aircraft) |
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Commitment |
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Undrawn amounts |
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Amount outstanding |
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Weighted average interest rate (a) |
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Maturity |
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Amount outstanding |
| Unsecured |
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| ILFC Legacy Notes |
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$ |
1,034,274 |
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$ |
— |
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$ |
1,034,274 |
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6.63 |
% |
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2022 |
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$ |
1,198,888 |
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AerCap Trust (b) & AICDC (c)
Notes
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13,253,097 |
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— |
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13,253,097 |
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4.07 |
% |
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2021-2028 |
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12,797,126 |
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| Asia Revolving Credit Facility |
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950,000 |
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950,000 |
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— |
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— |
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2022 |
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— |
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| Citi Revolving Credit Facility |
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4,000,000 |
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4,000,000 |
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— |
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— |
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2024 |
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— |
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| Other unsecured debt |
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1,717,125 |
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— |
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1,717,125 |
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1.93 |
% |
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2022-2023 |
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1,759,000 |
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| Fair value adjustment |
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13,038 |
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21,716 |
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| TOTAL UNSECURED |
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$ |
20,954,496
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$ |
4,950,000
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$ |
16,017,534
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$ |
15,776,730
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| Secured |
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| Export credit facilities (d) |
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33 |
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1,256,251 |
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— |
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1,256,251 |
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2.06 |
% |
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2023-2033 |
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1,023,912 |
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Institutional secured term loans
& secured portfolio loans
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184 |
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6,710,679 |
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— |
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6,710,679 |
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2.59 |
% |
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2022-2032 |
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6,989,633 |
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AerFunding Revolving Credit
Facility
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36 |
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2,075,000 |
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779,045 |
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1,295,955 |
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2.83 |
% |
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2025 |
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2,074,881 |
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| Other secured debt |
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23 |
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1,057,786 |
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327,772 |
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730,014 |
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3.22 |
% |
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2021-2039 |
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778,273 |
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| Fair value adjustment |
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(1,406) |
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(1,827) |
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| TOTAL SECURED |
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$ |
11,099,716
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$ |
1,106,817
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$ |
9,991,493
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$ |
10,864,872
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| Subordinated |
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Subordinated Notes |
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2,250,000 |
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— |
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2,250,000 |
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5.07 % |
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2025-2079 |
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2,250,000 |
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Subordinated debt issued by joint
ventures
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43,521 |
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— |
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43,521 |
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— |
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2023-2026 |
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43,521 |
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| Fair value adjustment |
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(217) |
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(219) |
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| TOTAL SUBORDINATED |
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$ |
2,293,521
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$ |
—
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$ |
2,293,304
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$ |
2,293,302
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Debt issuance costs, debt discounts and debt premium |
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(203,711) |
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(192,823) |
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276
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$ |
34,347,733
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$ |
6,056,817
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$ |
28,098,620
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$ |
28,742,081
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(a)The weighted average interest rate for our floating rate debt is calculated based on the U.S. dollar LIBOR rate as of the last interest payment date of the respective debt, and excludes the impact of related derivative financial instruments which we hold to hedge our exposure to floating interest rates, as well as any amortization of debt issuance costs, debt discounts and debt premium. The institutional secured term loans and secured portfolio loans also contain base rate alternatives.
(b)AerCap Global Aviation Trust, a Delaware Statutory Trust (“AerCap Trust”).
(c)AerCap Ireland Capital Designated Activity Company, a designated activity company with limited liability incorporated under the laws of Ireland (“AICDC”).
(d)An additional $0.8 billion of commitment has been approved by the Export Credit Agencies, subject to customary conditions at drawdown.
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