BBA Aviation PLC Pricing of senior notes offering (5425R)
30 Octubre 2019 - 1:00AM
UK Regulatory
TIDMBBA
RNS Number : 5425R
BBA Aviation PLC
30 October 2019
30 October 2019
NOT FOR PUBLICATION OR DISTRIBUTION IN OR INTO CANADA, JAPAN OR
AUSTRALIA.
THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY AND DOES
NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR
ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE
FOR, ANY SECURITIES OF BBA AVIATION PLC. PLEASE SEE THE IMPORTANT
NOTICE AT THE END OF THIS ANNOUNCEMENT.
BBA Aviation announces pricing of its senior notes offering
BBA Aviation, together with its subsidiaries (the "Group"), 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 "Offering"). 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."
Notes:
The Group will publish its Q3 trading update on 13 November
2019.
Enquiries:
BBA Aviation plc
David Crook, Group Finance Director
Kate Moy, Head of Investor Relations and Communications
(020) 7514 3999
Tulchan Communications
David Allchurch
(020) 7353 4200
Information on BBA Aviation plc
BBA Aviation plc is a market leading, global aviation support
and aftermarket services provider, primarily focused on servicing
the Business and General Aviation (B&GA) market. We support our
customers through three principal businesses: Signature, Ontic and
Global Engine Services/Engine Repair and Overhaul (ERO).
Signature, including Signature FBO, TECHNICAir(TM) and EPIC
Fuels, provides premium, full service flight and home base support
including refuelling, ground handling and MRO services through the
world's largest fixed base operation (FBO) network for B&GA
users with around 200 locations covering key destinations in North
America, Europe, South America, Caribbean, Africa and Asia. EPIC
Fuels is a provider of aviation fuels, supplies and services
operating at more than 200 locations.
On 1 March 2018, BBA Aviation announced that it was conducting a
strategic review of the ERO business and, at the end of May 2018,
management committed to a plan to sell substantially all of the
business and the relevant assets and liabilities were classified as
held for sale. The sale process is ongoing.
On 30 July 2019, BBA Aviation announced the proposed sale of
Ontic to CVC Fund VII, subject to shareholder and regulatory
approvals. Subject to approvals the sale is expected to close
during Q4 2019 (or as soon as practicable thereafter). For more
information, please visit www.bbaaviation.com
Important Information
NOT FOR PUBLICATION OR DISTRIBUTION IN OR INTO CANADA, JAPAN OR
AUSTRALIA.
Certain statements made in this announcement are forward-looking
statements. Such statements are based on current expectations and
assumptions and are subject to a number of risks and uncertainties
that could cause actual events or results to differ materially from
any expected future events or results expressed or implied in these
forward-looking statements. Persons receiving this announcement
should not place undue reliance on forward-looking statements.
Unless otherwise required by applicable law, regulation or
accounting standard, the Group does not undertake to update or
revise any forward-looking statements, whether as a result of new
information, future developments or otherwise.
These materials are not an offer of securities for sale in the
United States. Any securities referred to herein have not been and
will not be registered under the U.S. Securities Act of 1933, as
amended (the "Securities Act"), and may not be offered or sold in
the United States absent registration or an exemption from
registration under the Securities Act. There is no intention to
register any securities referred to herein in the United States or
to make a public offering of the securities in the United States.
Any decision to invest in the notes offered in the Offering must be
made solely based on the information in the Offering
Memorandum.
This announcement is for informational purposes only and is
directed only at persons who are: (a) persons in member states of
the European Economic Area (the "EEA") who are qualified investors
(as defined in Regulation (EU) No. 2017/1129); (b) persons in the
United Kingdom who are qualified investors and who are (i)
investment professionals falling within Article 19(5) of the
Financial Services and Markets Act 2000 (Financial Promotion) Order
2005 (the "Order"); or (ii) persons falling within Article 49(2)
(a) to (d) of the Order ("high net worth companies, unincorporated
associations, etc."); or (iii) persons to whom an invitation or
inducement to engage in investment activity (within the meaning of
Section 21 of the Financial Services and Markets Act 2000) in
connection with the issue or sale of any senior secured notes may
otherwise be lawfully communicated or cause to be communicated (all
such persons in (a) and (b) together being referred to as "relevant
persons"). This announcement must not be acted on or relied on by
persons who are not relevant persons. Any investment or investment
activity to which this announcement relates is available only to
relevant persons and will be engaged in only with relevant
persons.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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