Atlantic Aviation firms $330 million term loan at 99.75 OID

By Sara Rosenberg

New York, Oct. 20 – Atlantic Aviation (KKR Apple Bidco LLC) finalized the original issue discount on its fungible $330 million incremental first-lien term loan due 2028 at 99.75, the tight end of the 99.5 to 99.75 talk, according to a market source.

Pricing on the incremental first-lien term loan is Libor plus 300 basis points with a 0.5% Libor floor, in line with existing term loan pricing.

Jefferies LLC and KKR Capital Markets are the bookrunners on the deal.

Proceeds will be used to fund the acquisition of LYNX Aviation.

Pro forma for the transaction, the first-lien term loan will total $1.68 billion.

Atlantic Aviation is an operator of fixed base operations, providing a full suite of critical services to the private aviation sector.

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