BBA Aviation (LON: BBA), together with its subsidiaries, a market-leading provider of global aviation support and aftermarket services, is pleased to announce the pricing of an offering of $650 million principal amount of 4.00% senior unsecured notes due 2028. 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 1 November 2019.
The Group intends to use the proceeds from the Offering, to prepay existing debt under the 2019 Term Loan facility and partly prepay the Facility C Term Loan due to be repaid in September 2020.
David Crook, BBA Aviation Finance Director commented:
“We are pleased to have completed a further unsecured bond issue, after our successful inaugural offering in April 2018. This will further align our debt maturity profile with the long-term nature of the Signature FBO lease portfolio.”
