Capital Lease Aviation PLC Finance Facilities (3033G)
March 03 2015 - 2:00AM
UK Regulatory
TIDMCLA
RNS Number : 3033G
Capital Lease Aviation PLC
03 March 2015
RNS: CLA March 3, 2015
CAPITAL LEASE AVIATION PLC
("CLA" or "the Company")
Finance Facilities
Capital Lease Aviation PLC (CLA: AIM), the commercial passenger
aircraft leasing company advises that it has provided a loan of US$
8.2m to a subsidiary of Avation PLC, a substantial shareholder in
the Company, on the following terms and conditions:
-- The term of the loan expires on 30 June 2015 but may be
repaid earlier at the borrower's option; the loan is callable by
CLA on 20 business days' notice;
-- The Loan is unsecured;
-- The interest rate is one month USD LIBOR plus a margin of 3.95%; and
-- Interest is paid on a monthly basis.
In addition, the Company and Avation have also agreed a standby
cash arrangement allowing loans between CLA and Avation to be made
up to a limit of $3m at any one time at an annual interest rate of
5.5 per cent.
The loan and the standby cash arrangement are related party
transactions under the AIM rules as Avation is a substantial
shareholder in the Company. With the exception of Jeff Chatfield
and Richard Wolanski who are office holders of Avation, the
directors of the Company, consider, having consulted with the
Company's nominated adviser, WH Ireland, that the terms of the
transactions are fair and reasonable in so far as the shareholders
are concerned.
-ENDS-
Enquiries:
The Company - Jeff Chatfield Executive Chairman +65 6252
2077
WH Ireland -James Joyce /James Bavister +44 20 7220 1666
Blytheweigh - Tim Blythe / Eleanor Parry +44 20 7138 3204
This information is provided by RNS
The company news service from the London Stock Exchange
END
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