LAUNCH OF SENIOR NOTES MATURITY EXTENSION

Via RNS and SGXNET  

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, SOUTH AFRICA OR ANY OTHER STATE OR JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT AN OFFER OF SECURITIES IN ANY JURISDICTION.

AVATION PLC

("AVAP" or "the Company")

LAUNCH OF SENIOR NOTES MATURITY EXTENSION

Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company, announces that, further to the announcement made 9 February 2021, it has today launched a consent solicitation exercise (the "Consent Solicitation") to the holders ("Noteholders") of the 6.5% senior notes due May 2021 issued by Avation Capital S.A. under the group's global medium term note programme (the "Notes").

The expected timetable for the Consent Solicitation is set out below:

23 February 2021 (T) - launch of Consent Solicitation and the record date for warrants to be issued in connection with the Consent Solicitation (the "Warrants");

2 March 2021 (T+ 8) - early consent fee expiration date;

5 March 2021 (T+11) - final consent fee expiration date (those that submit consents after this date will not receive a consent fee). Final date by which Noteholders may provide a separate notice with their details for the issue of Warrants to them on the implementation date ("Warrants Notice");

12 March 2021 (T+18) - expiration date (last date for consents to be submitted);

16 March 2021 (T+22) - implementation and settlement date with payment of 50bps consent fee for early voters and 25bps fee for late voters, and signing of the supplemental trust deed and the other transaction documents including issue of the Warrants to Noteholders who delivered their Warrant Notice by 5 March 2021; and

23 August 2021 - last date holders may submit a Warrant Notice to be entitled to Warrants.

For further information, Noteholders are advised to contact our tabulation and solicitation agent as follows:

D.F. King Limited

In London:
65 Gresham Street

London, EC2V 7NQ

United Kingdom

Telephone: +44 20 7920 9700

In Hong Kong:

Suite 1601, 16/F, Central Tower
28 Queen's Road Central
Hong Kong

Telephone: +852 3953 7208

In New York:

48 Wall Street, 22nd Floor

New York, New York 10005

Banks and Brokers call: +1 (212) 269‑5550

All others call toll free: +1 (866) 356‑7813.

Facsimile: +1 (212) 709‑3328

Attention: Andrew Beck

Confirmation: +1 (212) 269‑5552

Website: https://sites.dfkingltd.com/avation

Email: [email protected]

  -ENDS-

Enquiries:

Avation PLC - Jeff Chatfield, Executive Chairman                                      +65 6252 2077

Avation welcomes shareholder questions and comments and advises the email address is: [email protected]

Notes to Editors:

Avation PLC is an aircraft leasing company, headquartered in Singapore which owns and manages a fleet of commercial passenger aircraft leased to airlines around the world.

More information on Avation is available at www.avation.net.