By Rebecca Melvin
New York, Nov. 27 – Avation Capital SA, a subsidiary of Avation plc, priced a $10 million tap of its 7˝% senior notes at 100.83, according to a company news release on Monday.
The additional notes (B/B+) bring the Rule 144A and Regulation S deal size to $150 million.
The notes are non-callable until May 27, 2018, and then callable at par. They mature May 27, 2020.
Proceeds will be used to purchase certain new aircraft before the end of December.
Avation is a Singapore-based aircraft lessor.
| Issuer: | Avation Capital SA
|
| Guarantor: | Avation plc
|
| Amount: | $10 million
|
| Maturity: | May 27, 2020
|
| Description: | Senior notes add-on
|
| Coupon: | 7˝%
|
| Price: | 100.83
|
| Call feature: | Beginning May 27, 2018 at par
|
| Change-of-control put: | 101%
|
| Settlement date: | Nov. 27
|
| Expected ratings: S&P: B
|
| Fitch: B+
|
| Distribution: | Rule 144A, Regulation S
|
| Total deal size: | $150 million
|
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