20th May 2015 08:36
LONDON (Alliance News) - Avation PLC on Wednesday said it has established a USD500 million note issue programme and said it has successfully priced the first USD100 million tranche of the scheme.
The commercial passenger aircraft leasing company said it intends to use the proceeds of the first USD100 million to finance and refinance the acquisition of commercial passenger aircraft.
"These notes form a part of the strategy to create an optimal capital structure for funding the growth of the company. The company has previously announced the purchase of twelve new modern commercial aircraft, a mixture of Airbus A321 and ATR72 types," said Executive Chairman Jeff Chatfield.
Shares in Avation were up 2.5% to 142.00 pence on Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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