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BBA Aviation places $200 million of loan notes; Good Energy secures £45 million debt facility
By Lisa Kerner
Charlotte, N.C., Dec. 18 – BBA Aviation plc placed $200 million of loan notes with institutional investors.
The notes have maturities of seven, 10 and 12 years, for an average of 9.8 years.
Coupons range between 3.7% and 4.2%, for a weighted average of 4%, according to a company news release.
BBA said the initial offering of $100 million was more than four times oversubscribed.
Proceeds will be used to repay drawings under the group's existing committed bank facilities.
The company swapped half of the proceeds into variable rates from fixed rates.
BBA Aviation is a global aviation support and aftermarket services provider based in London.
Good Energy Group plc secured a nonrecourse debt financing facility of up to £45 million from GCP Infrastructure Investments Ltd.
The facility has a term of about 19 years and a fixed rate of interest, with interest charges beginning on draw-down, said GCP.
The facility will be issued to subsidiary Good Energy Group by GCP Green Energy 1 Ltd.
According to Good Energy, the facility will be used to refinance the existing debt facility on the Hampole wind farm and its two existing operational solar sites. It will also support further development and construction of Good Energy’s solar generation portfolio.
Good Energy is a renewable electricity supplier and generator based in Wiltshire, England.
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