Atlantic Aviation launches $325 million term loan at SOFR plus 400 bps

By Sara Rosenberg

New York, July 14 – Atlantic Aviation (KKR Apple Bidco LLC) launched on Thursday its non-fungible $325 million incremental first-lien term loan (B1/B+) due Sept. 23, 2028 with price talk of SOFR plus 400 basis points with a 0.5% floor and an original issue discount of 92 to 93, according to a market source.

The incremental term loan has 101 soft call protection for six months.

Jefferies LLC, KKR Capital Markets, Credit Suisse Securities (USA) LLC, Goldman Sachs Bank USA, Morgan Stanley Senior Funding Inc., HSBC Securities (USA) Inc., Mizuho, BNP Paribas Securities Corp., ING, Societe Generale, SMBC, Wells Fargo Securities LLC and U.S. Bank are the bookrunners on the deal.

Commitments are due at noon ET on Friday, the source added.

Proceeds will be used to refinance existing revolving credit facility borrowings and for general corporate purposes.

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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