Aircell Business Aviation gets $113 million add-on term loan B

By Sara Rosenberg

New York, April 4 - Aircell Business Aviation Services LLC closed on Thursday on a $113 million add-on term loan B due June 21, 2017 that is priced at Libor plus 975 basis points with a 1.5% Libor floor and an original issue discount of 95, according to a market source.

With the add-on, the non-call period was extended by one year to June 21, 2015, after which the loan is callable at 103 for a year.

The add-on brought the total term loan B amount to roughly $245.5 million, the source said.

Morgan Stanley Senior Funding Inc. and J.P. Morgan Securities LLC led the deal.

Proceeds are being used for general corporate purposes.

Aircell is a Broomfield, Colo.-based provider of in-flight connectivity equipment and services to the business aviation market.

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