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SECURED AIRCRAFT REVOLVING FACILITY AGREEMENT
SECURED AIRCRAFT REVOLVING FACILITY AGREEMENT.
About this update from Avation Plc
[{"type":"text","content":"\n \nRNS Number : 3335Z Avation PLC 14 December 2017 \n\nAVATION PLC\n(\"Avation\" or \"the Company\")\n \nSECURED AIRCRAFT REVOLVING FACILITY AGREEMENT\n \nThe Board of Avation PLC (LSE: AVAP), announces that on 13 December 2017, the Company entered into a secured aircraft revolving facility agreement (the \"Facility\") with a leading international bank. \n \nThe Facility will be used to finance aircraft or part portfolios of passenger aircraft on lease to commercial airlines. Aircraft financed by the Facility must satisfy certain agreed criteria which include airline credit, minimum lease duration and aircraft type. The initial Facility amount is US$100 million with interest based on either fixed or floating rates. The optimal duration for loans under the Facility is up to 36 months.\n \nAvation PLC Executive Chairman Jeff Chatfield said: \"This Facility provides for rapid purchase funding of new or on lease aircraft and is a useful finance mechanism for trading acquisitions for durations of the short to medium term.\" \n \n-ENDS-\nMore information on Avation can be seen at: www.avation.net\n \nNotes to Editors: \nAvation PLC is a commercial passenger aircraft leasing company, owning and managing a fleet of jet and turboprop aircraft which it leases to airlines across the world. The Company's customers include Air France, Air India, Condor, Flybe, Fiji Airways, Thomas Cook, Virgin Australia, Mandarin Airlines, Philippine Airlines, EVA Air and VietJet Air.\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END AGRGLBDDIDBBGRS\n ","length":2668,"tagName":"div"}]