Avation PLC JUNIOR FINANCE FOR THREE AIRCRAFT
January 17 2017 - 2:00AM
RNS Non-Regulatory
TIDMAVAP
Avation PLC
17 January 2017
AVAP.LN via RNS Reach
AVATION PLC
("Avation" or "the Company")
JUNIOR FINANCE FOR THREE AIRCRAFT
Avation PLC (LSE: AVAP), the commercial passenger aircraft
leasing company advises that Tamweel Aviation Finance has made a
press release concerning junior finance for the purchase of three
aircraft.
The text of the press release is as follows:
"Novus' TAF finances three A321-200s for Avation PLC delivered
to VietJet
Dubai, UAE - January 16, 2017: Tamweel Aviation Finance (TAF)
has closed the financing of the third of a three-A321-200 new
aircraft facility for Avation PLC (AVAP.LN), the London LSE listed
and Singapore based lessor. All three aircraft are on long-term
operating leases with fast-growing Vietnamese low-cost carrier
VietJet Air.
TAF is the finance leasing platform managed by Novus Aviation
Capital (Novus) which brings together a partnership of Airbus SAS
(Airbus), the Development Bank of Japan Inc (DBJ) and Norddeutsche
Landesbank Girozentrale (Nord/LB) to provide attractive high LTV
mezzanine financing to the world's airlines and lessors for Airbus
products. Having just completed three years of successful
operation, TAF has grown to a portfolio size of more than US$1
billion of assets by market value.
"We are very pleased to add Avation to the growing list of
customers of Novus dedicated financing platform," said Mounir
Kuzbari, Managing Director at Novus.
"A key driver of Avation's profitability is the overall cost of
finance and the amount of leverage. TAF's mezzanine facilities are
a useful leverage tool for transactions of this nature," said Jeff
Chatfield, Executive Chairman at Avation PLC.
-ENDS-
About Novus Aviation Capital:
Novus is an independent, privately-held aircraft leasing
platform, focused on investing in commercial aircraft assets.
Established over 22 years ago, the Novus team operates out of its
five global offices in the Middle East, Europe and Asia. The
company currently co-owns and manages aircraft-related projects
worth about USD 3 billion.
For more information, please visit: www.novus.aero
About Avation PLC (AVAP.LN):
More information on Avation can be seen at: www.avation.net
Avation PLC is a commercial passenger aircraft leasing company
owning and managing a fleet of jet and turbo prop aircraft which it
leases to airlines across the world. The Company's customers
include Vietjet Air, Thomas Cook, Air France, Condor Flugdienst,
Air Berlin, Virgin Australia Airlines, Fiji Airways and UNI Air.
"
This information is provided by RNS
The company news service from the London Stock Exchange
END
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January 17, 2017 02:00 ET (07:00 GMT)
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