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The Avia Solutions Group's 300M USD Debut Bond Lands Well

LIMASSOL, Cyprus, Dec. 4, 2019 /PRNewswire/ -- Avia Solutions Group (ASG), a global multi-service aviation holding and one of the largest aerospace servicing companies in the world, debuted in the European high yield bond market last Tuesday.

ASG, which had received BB ratings from both Standard & Poor's and Fitch, became the second company from Lithuania to achieve such impressive results in bond issue. Its 300M USD of senior unsecured notes succeeded in attracting the institutional investors in the UK, USA, EU and Asia.

With the reasonable conditions, which included 7.85 USD interest and an opportunity to sell or refinance the five-year notes after two years, the issue was closed on the 3rd of December. The joint lead managers on the deal were JP Morgan and BNP Paribas banks. The plans on how to use the money received include the financing of leasing aircrafts, ASG project development and the expansion of current business lines.

 

Cision

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SOURCE Avia Solutions Group PLC