NOTES MATURITY EXTENSION – COMPLETION

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")

SENIOR NOTES MATURITY EXTENSION - COMPLETION

Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company, announces that, further to the announcement made on 3 March 2021 confirming receipt of the requisite consents in respect of its consent solicitation exercise with the holders 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"), it has now signed the Supplemental Trust Deed and all other relevant documents to give effect to the proposals outlined in the Company's announcement of 9 February 2021 (the "Proposals").

We therefore announce that, as of 25 March 2021, the Proposals have come into effect and are now operative including, the extension of the maturity date of the Notes from 15 May 2021 to 31 October 2026, the amendments to the bond terms (including the adjustment to the coupon) and the grant of additional security. 

-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.