Avation PLC REQUISITE BOND CONSENT OBTAINED (0061R)
March 03 2021 - 3:02AM
UK Regulatory
TIDMAVAP
RNS Number : 0061R
Avation PLC
03 March 2021
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 - REQUISITE CONSENT OBTAINED
Avation PLC (LSE: AVAP), the commercial passenger aircraft
leasing company, announces that, further to the announcement made
on 23 February 2021 of the launch of a consent solicitation
exercise (the "Consent Solicitation") with 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").
As at the date of this Announcement, the aggregate outstanding
principal amount of the Notes is U.S. $350,000,000 of which U.S.
$7,358,000 in principal amount of the Notes are held in treasury.
Accordingly, only U.S. $342,642,000 are deemed to be outstanding
for the purposes of the Consent Solicitation under the Trust Deed
for the Notes.
We wish to announce that as of 5 p.m. New York City time on 2
March 2021, being the latest time and date on which Noteholders
need to deliver their consents in order to be eligible for the
early consent fee, we have received electronic Consents from
Noteholders holding U.S. $342,642,000 in principal amount of the
Notes representing 100% of the principal amount of the Notes deemed
outstanding for the purposes of the Consent Solicitation. It should
be noted that consents given may not be revoked. Accordingly, the
extraordinary resolution of the Noteholders approving the proposals
outlined in the Company's announcement of 9 February 2021 (the
"Proposal") has been passed and will be binding on all
Noteholders.
The Company will proceed to execute the formal documents
required to implement the Proposal which is expected to be
completed by 16 March 2021 (the "Implementation Date"). The Company
will make another announcement after the Implementation Date to
notify Noteholders that the Proposals have become effective and
operative.
-ENDS -
Enquiries:
Avation PLC - Jeff Chatfield, Executive Chairman +65 6252 2077
Avation welcomes shareholder questions and comments and advises
the email address is: investor@avation.net
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.
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END
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