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Avation PLC announced on 20 November 2024 that it has signed a term sheet with a major international bank for a US$85 million portfolio financing facility. The facility will initially be used for refinancing certain existing aircraft and remains subject to final documentation and usual conditions precedent for fund draw down.
| Date | 20 Nov 2024 |
| Time | 07:00:01 |
| Category | Acquisitions and alliances |
| ID | 9437M |
Via RNS and SGXNET
AVATION PLC
("Avation" or "the Company")
PORTFOLIO FINANCING FACILITY
Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company, advises that it has signed a term sheet with a major international bank for a US$85 million portfolio financing facility. The facility will initially be used for the refinancing of certain existing aircraft in our fleet but will be available and extendable for the financing of additional aircraft subject to certain conditions.
The facility remains subject to documentation being finalised and to the usual conditions precedent for the draw down of funds under the facility.
We will make further announcements in due course as this transaction proceeds to expected completion.
-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: [email protected] 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.