Atlantic Aviation FBO launches $1.33 billion credit facilities

By Sara Rosenberg

New York, Nov. 15 – Atlantic Aviation FBO Inc. held a lender meeting on Thursday to launch $1,325,000,000 of credit facilities (Ba3/BB), according to a market source.

J.P. Morgan Securities LLC is the lead bank on the deal.

The facilities consist of a $300 million revolver and a $1,025,000,000 seven-year term loan B, the source said.

Price talk on the term loan B is Libor plus 325 basis points with a 0% Libor floor and an original issue discount of 99 to 99.5, another source added.

The term loan has 101 soft call protection for six months.

Proceeds will be used to refinance existing debt and fund a dividend.

Commitments are due on Nov. 29.

Atlantic Aviation is a Plano, Texas-based provider of aviation services.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.