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PRICING OF 6.5% SENIOR NOTES DUE 2021
PRICING OF 6.5% SENIOR NOTES DUE 2021.
About this update from Avation Plc
[{"type":"text","content":"\n \nRNS Number : 5914H Avation PLC 16 November 2018 \n\nAVATION PLC\n(\"AVAP\" or \"the Company\")\nPRICING OF 6.5% SENIOR NOTES DUE 2021\nAvation PLC (AVAP: LSE), the commercial passenger aircraft leasing company, announces today the successful pricing and full subscription of its offering of an additional US$50 million aggregate principal amount of 6.5% senior notes due 2021 (the \"Notes\") under the Company's global medium term note program (\"GMTN Programme\"), which are to be consolidated and will form a single series with the U.S.$300,000,000 6.50% Senior Notes due 2021. \nThe Notes will be issued by Avation Capital S.A., a wholly owned subsidiary of the Company, and be guaranteed by AVAP. Closing and funding are expected to take place on or about November 19, 2018, subject to customary conditions precedent for similar transactions. The net proceeds from the issuance of the Notes (after deduction of underwriting fees, discounts and commissions, and other expenses incurred by the Issuer in connection with the issuance of the Notes) will be used by the Issuer to repay secured indebtedness. \nThe Notes will be listed on the SGX-ST and will be rated B+ by S&P Global Ratings and BB- by Fitch Ratings\nWells Fargo Securities, LLC along with Morgan Stanley & Co. International plc acted as bookrunners on the issue.\nJeff Chatfield, Executive Chairman, said: \"We are pleased to have priced the Notes under our GMTN Programme, amid strong demand. We also note the improved credit rating for the Notes from S&P of B+ which has been published recently. We believe this issue is an important step in the evolution of the Company's capital structure.\"\n* * *\nThis announcement is for information purposes only and does not constitute an invitation or offer to acquire purchase or subscribe for any securities.\nThis announcement is not for distribution, directly or indirectly, in or into the United States. This announcement does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The Notes mentioned in this announcement have not been and will not be registered under the United States Securities Act of 1933, as amended (the \"Securities Act\") and may not be offered or sold in the United States except pursuant to registration or an exemption from the reg...