Avia Solutions bond oversubscribed

Avia Solutions reports that its $300 million five year, senior unsecured bond issuance, which priced with a 9.75% coupon, attracted strong investor demand leading to an oversubscription of almost double the issue size. The aviation group plans to utilise the proceeds to refinance an earlier bond issuance, which matures this year and has $180 million outstanding. “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,” said chief executive, Jonas Janukenas. “We are expanding our worldwide services operations, fleet capacity and capabilities to continue delivering exceptional services