Avation announces new debt issue and expanded aircraft options pipeline
The commercial passenger aircraft leasing company, Avation, announced on Thursday the pricing and issue of a $20m tranche of its 7.5% senior notes due in 2020 at a premium with a price of 100.83.
Avation
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16:55 19/04/24
Industrial Transportation
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17:10 19/04/24
Avation's executive chairman Jeff Chatfield said: "The company has decided to establish a financing package using, in the main part, attractively priced bank finance for the purchase of a series of additional aircraft scheduled for delivery before the end of December 2017. This tap issuance forms a part of the overall financing for the aircraft."
The new notes were to form a single series together with the $120m already issued as part of its medium-term notes programme.
In a separate announcement on the same day, the company also reported the expansion of its aircraft options pipeline for new ATR72-600 aircraft over the next five years to 30.