REG - Avation PLC - SECURES $85 MILLION EXPANDABLE PORTFOLIO FINANCE

AvationAnnouncement

14/02/2025 07:15

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250214:nRSN1633Xa&default-theme=true

RNS Number : 1633X  Avation PLC  14 February 2025

Via RNS and SGXNET

#AVAP on X

 

 

AVATION PLC

("Avation" or "the Company")

SECURES $85 MILLION EXPANDABLE PORTFOLIO FINANCING FACILITY

 

Avation PLC (LSE: AVAP), the leading commercial passenger aircraft leasing
company, is pleased to announce that it has signed a Term Loan A-style US$85
million expandable portfolio financing facility (the "Facility") in
collaboration with a major international bank. This strategic Facility will
initially support the refinancing of select aircraft in Avation's fleet, with
the flexibility to finance additional aircraft, subject to lender approval.

The Facility enhances the Company's cash flow and strengthens its financial
position. Funds are expected to be drawn in the coming weeks, following the
completion of standard conditions precedent, in coordination with the relevant
airlines.

Avation was advised on the transaction by the aviation team of the Singapore
office of Morgan, Lewis & Bockius LLP, led by James Bradley.

Executive Chairman Jeff Chatfield commented: "This landmark Term Loan A
facility is a positive step forward for Avation, offering the flexibility to
add additional aircraft over time. The facility's interest coupon is
substantially lower than the market for unsecured bond financing. Once fully
drawn, this facility has the potential to improve the Company's cash flow by
up to US$400,000 per month. We are delighted to have executed this transaction
with one of our trusted long-term banking partners."

 

-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
6252 2077.

 

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/)

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  AGRTIMFTMTJBMLA