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Avation to launch new round of debt finance

The proceeds will be used for the purchase of aircraft and to refinance secured debt
picture of plane
Money will be used to buy new planes

Avation PLC (LON:AVAP) is preparing a new round of dollar-denominated debt.

The aircraft lessor is rated B+/Stable by debt rating agencies S&P Global and Fitch, with the new bonds expected to be rated B by S&P and B+ by Fitch.

READ: Avation signs lease transition for Airbus A320-200 aircraft to easyJet from Air Berlin

The proceeds will be used for the purchase of aircraft and to refinance secured debt.

JP Morgan and RW Pressprich have been mandated as joint lead managers for the fixed rate senior notes, which will be due for repayment in due 2022.

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