Singapore’s Avation taps banks for $200 million five-year notes offer

By Rebecca Melvin

New York, Oct. 24 – Avation plc plans to sell $200 million of five-year notes (expected ratings: B/B+) via joint bookrunners JPMorgan and R.W. Pressprich, according to a market source.

Proceeds of the Rule 144A and Regulation S notes will be used to purchase new aircraft, including an A330-300 to be leased to EVA Air and a 777-300ER to be leased to Philippine Airlines.

Avation is a Singapore-based aircraft lessor.

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