Avation has successfully priced $300 million of senior unsecured notes due May 15, 2031, with a coupon of 8.5% to be issued from its new $1bn global medium term note programme.
Proceeds from the notes will be used to pay the outstanding $298 million of 8.25% senior unsecured notes due 2026, along with issuance expenses. The notes are expected to be issued on November 6, 2025.
“The company is pleased to have priced this bond issuance with a term of 5.5 years, providing it with long-term stable financing," said Avation executive chairman Jeff Chatfield. "The company has now reset its near-term debt maturities and is back to a stable growth mode.”
The notes are rated B by Fitch Ratings, B2 by Moody's and B by S&P Global Ratings.
Fitch affirmed its B rating of Avation with a stable outlook on November 4, following the issuance pricing.