AWAS narrows talk on $360 million term loan to Libor plus 450 bps

By Paul A. Harris

Portland, Ore., June 25 - AWAS Aviation Capital Ltd. narrowed price talk on its $360 million six-year term loan (Ba2//) to Libor plus 450 basis point from previous talk of Libor plus 450 bps to 475 bps, market sources said on Monday.

Discount talk was cut 99 from 98.5.

The loan is expected to allocate on Tuesday.

As reported, the deal comes with a 1.25% Libor floor and features 101 soft call protection for one year.

Goldman Sachs & Co., RBC Capital Markets LLC and Morgan Stanley Senior Funding Inc. are the lead banks on the deal.

Proceeds will be used to fund a portfolio of aircraft.

AWAS is a Dublin-based aircraft leasing company.

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