Atlantic Aviation flexes $1.03 billion term B to Libor plus 375 bps

By Sara Rosenberg

New York, Nov. 30 – Atlantic Aviation FBO Inc. lifted pricing on its $1,025,000,000 seven-year term loan B to Libor plus 375 basis points from Libor plus 325 bps, according to a market source.

Also, the original issue discount on the term loan was set at 99, the wide end of the 99 to 99.5 talk, and the 101 soft call protection was extended to one year from six months, the source said.

As before, the term loan has a 0% Libor floor.

The company’s $1,325,000,000 of credit facilities (Ba3/BB) include a $300 million revolver as well.

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

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

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

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