Avation PLC UPDATE OF $1B GLOBAL MEDIUM TERM NOTE PROGRAMME (9133L)
April 24 2018 - 4:27AM
UK Regulatory
TIDMAVAP
RNS Number : 9133L
Avation PLC
24 April 2018
AVATION PLC
("AVAP" or "the Company")
UPDATE OF US$1,000,000,000 GLOBAL MEDIUM TERM NOTE PROGRAMME
Avation PLC (AVAP: LSE), the commercial passenger aircraft
leasing company announces that its wholly-owned subsidiaries,
Avation Capital S.A. and Avation Group (S) Pte. Ltd. (together, the
"Issuers"), have on 20 April 2018 updated their global medium term
note programme (the "Programme").
The Programme is guaranteed by the Company. DBS Bank Ltd. and
R.W. Pressprich & Co. remain as dealers of the Programme and
each of BOCI Asia Limited, DVB Capital Markets LLC, Goldman Sachs
(Asia) L.L.C., Jefferies LLC, Morgan Stanley & Co.
International plc, and Wells Fargo Securities, LLC have acceded as
permanent dealers of the Programme (together, the "Dealers").
Under the Programme, the Issuers may issue Notes (the "Notes")
denominated in any currency in various amounts and tenors, which
may bear fixed, floating, variable or hybrid rates of interest or
no interest at all.
For the purpose of the Programme update, the Company engaged
Ernst & Young to produce an accountant's report in relation to
the Company's financial years ended 30 June 2016 and 30 June 2017
and selected interim periods. The updated offering memorandum will
be made available on the Company's website at www.avation.net.
Jeff Chatfield, Executive Chairman, said: "We were pleased to
see the recent change to a positive outlook for our credit rating
from Standard and Poor's. As at December 31, 2017, our fleet of 37
commercial aircraft is leased to 12 airlines, and has a weighted
average age of 2.9 years and a remaining lease duration of 7.9
years. We are selectively and organically growing our aircraft
asset base while strategically avoiding the risks associated with
owning older aircraft".
* * *
This announcement is for information purposes only and does not
constitute an invitation or offer to acquire purchase or subscribe
for any securities.
This announcement is not for distribution, directly or
indirectly, in or into the United States. This announcement does
not constitute or form a part of any offer or solicitation to
purchase or subscribe for securities in the United States. The
Notes mentioned in this announcement have not been and will not be
registered under the United States Securities Act of 1933, as
amended (the "Securities Act") and may not be offered or sold in
the United States except pursuant to registration or an exemption
from the registration requirements of the Securities Act. No public
offering of the Notes will be made in the United States.
Within the United Kingdom, this announcement is directed only at
persons having professional experience in matters relating to
investments who fall within the definition of "investment
professionals" in Article 19(5) of the Financial Services and
Markets Act 2000 (Financial Promotion) Order 2005. The investment
or investment activity to which this announcement relates is only
available to and will only be engaged in with relevant persons and
person who receive this announcement who are not relevant persons
should not rely or act upon it.
The Notes will be offered pursuant to exemptions invoked under
Sections 274, 275 and/or any other applicable provision of the
Securities and Futures Act, Chapter 289 of Singapore.
This press release shall not be considered an "offer of
securities to the public" for purposes of the Luxembourg law on
prospectus for public offering dated 10 July 2005 or give rise to
or require the publication of a prospectus in any EU member state
which has implemented Directive 2003/71/EC (together with any
applicable implementing measures, including Directive 2010/73/EC,
in any member state)
-ENDS-
More information on Avation can be seen at: www.avation.net
Enquiries:
Avation PLC - Jeff Chatfield Executive Chairman +65 6252
2077
Notes to Editors:
Avation PLC is a commercial passenger aircraft leasing company,
headquartered in Singapore, owning and managing a fleet of jet and
turboprop aircraft which it leases to airlines across the world.
The Company's customers include EVA Air, easyJet, Philippine
Airlines, Air France, Air India, Condor, Flybe, Fiji Airways,
Thomas Cook, Virgin Australia, Mandarin Airlines and Vietjet Air.
More information on Avation is available at www.avation.net.
This information is provided by RNS
The company news service from the London Stock Exchange
END
IODPGUCPCUPRURC
(END) Dow Jones Newswires
April 24, 2018 04:27 ET (08:27 GMT)
Avation (LSE:AVAP)
Historical Stock Chart
From Apr 2024 to May 2024
Avation (LSE:AVAP)
Historical Stock Chart
From May 2023 to May 2024