REG - Avation PLC Avation PLC - AVAW - REFINANCING OF AIRCRAFT FROM WAREHOUSE FACILITY

AvationAnnouncement

14/11/2022 07:01

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RNS Number : 2190G  Avation PLC  12 November 2022

 Via RNS and SGXNET

AVATION PLC

("Avation" or "the Company")

 

REFINANCING OF AIRCRAFT FROM WAREHOUSE FACILITY

Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company has
successfully refinanced two leased Airbus A220-300 aircraft. The aircraft were
previously financed in Avation's floating rate warehouse finance facility and
have now been refinanced with fixed rate term loans from a major Japanese
bank. The loans, which have Euro and USD tranches, amount to approximately
$43.7 million and the extended term of 8.5 years matches the lease duration.

Executive Chairman Jeff Chatfield said "Avation welcomes its first major
Japanese bank as a lender. Avation has strategically lowered its floating
interest rate risk by fixing these loans for a period of 8.5 years. Avation is
now 94.8% hedged against interest rate increases in its loan book using fixed
rate loans and interest rate swaps. We were also pleased to be able to lower
the interest rate margin for these loans which we consider to be an excellent
result in the current financial environment."

-ENDS-

Enquiries:

Avation PLC - Jeff Chatfield, Executive
Chairman
+65 6252 2077

Avation welcomes shareholder questions and comments and advises the email
address for questions is: investor@avation.net (mailto:investor@avation.net)
and the Company provides an investor Q & A during the conference call
associated with release of results. The head office telephone number is +65
62522077.

Notes to Editors: Avation PLC is an aircraft leasing company, headquartered in
Singapore, owning and managing a fleet of commercial passenger aircraft which
it leases to airlines around the world. More information on Avation is
available at www.avation.net (http://www.avation.net) .

 

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