Avia Solutions has issued US$300 million senior unsecured bonds due 2029 with a 9.75% coupon. The bonds, which are issued by Avia’s subsidiary ASG Finance Designated Activity Company, were issued with a long-term senior unsecured rating of BB with a Recovery Rating of RR4 from Fitch Ratings.
Bookrunners were Citi and Morgan Stanley.
Avia has been repurchasing its US$300 million 2024 bonds in the market and at end-2023 US$180 million of bonds were outstanding. Fitch notes that Avia's refinancing of this bond with its new US$300 million senior unsecured issue with a five-year maturity “preserves its liquidity and supports further investments”.
Avia Solutions prices unsecured bond issuance
