Avation PLC Repurchases Senior Notes
Why we think this is good
The RNS announcement indicates that Avation PLC has repurchased a portion of its outstanding senior notes, reducing the company's overall debt burden and interest payments. This is a positive development that demonstrates prudent financial management by the company.
Key Points
- Avation PLC has repurchased US$2,000,000 in face value of its senior notes
- The notes were acquired at a price equal to 98.5% of face value and will be cancelled
- Following the cancellation, there will be US$329,555,981 remaining Notes outstanding
Summary
The aircraft leasing company has repurchased a portion of its senior notes, reducing its debt obligations.
Avation PLC has repurchased US$2,000,000 in face value of its Avation Capital S.A. Senior PIK Toggle Notes due 2026. The notes were acquired at a price equal to 98.5% of face value and will be cancelled. Following the cancellation, there will be US$329,555,981 remaining Notes outstanding. This demonstrates the company's prudent financial management and a reduction in its overall debt burden.
GENERAL UPDATE