Signature Aviation launches $330 million term loan at 99.5-99.75 OID

By Sara Rosenberg

New York, Oct. 26 – Signature Aviation plc (Brown Group Holding LLC) launched on Tuesday its fungible $330 million add-on term loan B due June 7, 2028 with original issue discount talk of 99.5 to 99.75, according to a market source.

Pricing on the add-on term loan is Libor plus 275 basis points with a step-down to Libor plus 250 bps and a 0.5% Libor floor, in line with pricing on the company’s existing $1.579 billion term loan B.

RBC Capital Markets, Barclays, HSBC Securities (USA) Inc., MUFG, Santander, SMBC, Truist, JPMorgan Chase Bank and Blackstone Capital Markets are the joint lead arrangers on the deal.

Commitments are due at noon ET on Nov. 2, the source added.

Proceeds will be used to finance the acquisition of Vail Valley Jet Center LLC.

Signature Aviation, a company owned by Blackstone, Global Infrastructure Partners and Cascade Investment, is a London-based aviation services company.

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