BBA Aviation PLC Pricing of Senior Notes Offering (7013L)

TIDMBBA

RNS Number : 7013L

BBA Aviation PLC

23 April 2018

NOT FOR PUBLICATION OR DISTRIBUTION IN OR INTO CANADA, JAPAN OR AUSTRALIA.

THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY, AND DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY SECURITIES OF BBA AVIATION PLC. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.

23 April 2018

BBA Aviation announces pricing of its Senior Notes Offering

BBA Aviation (the "Group"), a market-leading provider of global aviation support and aftermarket services, is pleased to announce the pricing of an offering of $500 million (aggregated principal amount) of 5.375% senior unsecured notes due 2026 (the "Offering"). The Notes will be issued by a wholly-owned subsidiary of BBA Aviation plc and guaranteed by BBA Aviation plc and another wholly-owned Group subsidiary. The Offering is expected to close on 26 April 2018.

The Group intends to use the proceeds from the Offering to prepay existing term loan indebtedness, to repay, upon maturity in May 2018, $120 million of our private placement notes and to reduce drawn debt under the revolving credit facility.

David Crook, BBA Aviation Group Finance Director commented "We are pleased to have priced the bond financing at 5.375%. This gives the Group a diversified debt structure with an extended maturity profile to better align with the long-term nature of the assets being financed and support future growth."

Notes:

The Group will publish its Q1 trading update on 11 May 2018.

Enquiries:

BBA Aviation plc

David Crook, Group Finance Director

Kate Moy, Head of Investor Relations and Communications

(020) 7514 3999

Information on BBA Aviation plc

BBA Aviation plc is a market leading, global aviation support and aftermarket services provider, primarily focused on servicing the Business and General Aviation (B&GA) market. We support our customers through three principal businesses: Signature Flight Support and Signature TECHNICAir(TM) which provide premium, full service flight and home base support including refuelling, ground handling and MRO services through the world's largest fixed base operation (FBO) network for B&GA users with around 200 locations covering key destinations in North America, Europe, South America, Caribbean, Africa and Asia. Ontic is a leading provider of high-quality equipment and cost-effective solutions for the continuing support of maturing and legacy aerospace platforms with locations in the USA, Europe and Asia. Engine Repair & Overhaul/Global Engine Services is a leading independent engine service provider to global B&GA operators, the rotorcraft market and regional airline fleets with locations in the USA, Europe, South America, Asia and the Middle East. For more information, please visit www.bbaaviation.com

Important Information

NOT FOR PUBLICATION OR DISTRIBUTION IN OR INTO CANADA, JAPAN OR AUSTRALIA.

Certain statements made in this announcement are forward-looking statements. Such statements are based on current expectations and assumptions and are subject to a number of risks and uncertainties that could cause actual events or results to differ materially from any expected future events or results expressed or implied in these forward-looking statements. Persons receiving this announcement should not place undue reliance on forward-looking statements. Unless otherwise required by applicable law, regulation or accounting standard, the Group does not undertake to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.

These materials are not an offer of securities for sale in the United States. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. There is no intention to register any securities referred to herein in the United States or to make a public offering of the securities in the United States.

This announcement is for informational purposes only and is directed only at persons who are: (a) persons in member states of the European Economic Area (the "EEA") who are qualified investors (as defined in EU Prospectus Directive 2003/71/EC (as amended, including by EU Directive 2010/73/EU to the extent implemented in the relevant member state)); (b) persons in the United Kingdom who are qualified investors and who are (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"); or (ii) persons falling within Article 49(2) (a) to (d) of the Order ("high net worth companies, unincorporated associations, etc."); or (iii) persons to whom an invitation or inducement to engage in investment activity (within the meaning of Section 21 of the Financial Services and Markets Act 2000) in connection with the issue or sale of any senior secured notes may otherwise be lawfully communicated or cause to be communicated (all such persons in (a) and (b) together being referred to as "relevant persons"). This announcement must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this announcement relates is available only to relevant persons and will be engaged in only with relevant persons.

This information is provided by RNS

The company news service from the London Stock Exchange

END

IODPGUMCCUPRGMP

(END) Dow Jones Newswires

April 23, 2018 02:00 ET (06:00 GMT)

Bba Aviation (LSE:BBA)
Historical Stock Chart
From May 2024 to Jun 2024