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.