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Avia Solutions Group issues $300m worth of new bonds

Avia Solutions Group, a world leader in aviation services, has successfully completed a US$300 million issue of five-year senior unsecured bonds with coupon of 9.75%, (“the Bonds”). Demand for the Bonds was strong, with investors subscribing for nearly double the total issue.

Proceeds from the Bonds will be used to further the Group’s business development initiatives and refinance an earlier bond issuance maturing in 2024, of which US$180 million is outstanding.

Chief Executive, Jonas Janukenas, said:

“We are delighted with the strong appetite for the Group’s debt, validating our view in the business’s ability to deploy growth capital intelligently. We are expanding our worldwide services operations, fleet capacity and capabilities to continue delivering exceptional services to customers.”

Avia Solutions Group is the world’s largest Aircraft, Crew, Maintenance and Insurance, (ACMI) services group, operating a fleet of 212 aircraft. In the last financial year Group net profit grew over five-fold to €68.2 million, with adjusted EBITDA up 36% to €392 million on revenues up 22% to €2.3 billion.

The Group has over 12,000 highly skilled aviation professionals and comprises over 100 aviation services providers, including Maintenance, Repair and Overhaul, (MRO), pilot and crew training and ground handling, amongst others.

Citi and Morgan Stanley acted as joint bookrunners for the transaction.

The post Avia Solutions Group issues $300m worth of new bonds appeared first on AeroTime.

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