General Announcement::RESPONSE TO BONDHOLDER QUESTION AND REPURCHASE OF SENIOR NOTES

Issuer & Securities

Issuer/ Manager
AVATION CAPITAL S.A.
Securities
AVATIONCAP US$300M6.5%210515A - US05351CAA53 - 8ULB
AVATIONCAP US$300M6.5%210515R - USL56473AA67 - 8UMB
AVATIONCAP US$50M6.5%210515RT - USL56473AB41 - PHMB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
06-Aug-2020 12:22:03
Status
New
Announcement Sub Title
RESPONSE TO BONDHOLDER QUESTION AND REPURCHASE OF SENIOR NOTES
Announcement Reference
SG200806OTHR9FTF
Submitted By (Co./ Ind. Name)
Duncan Scott
Designation
Group General Counsel
Description (Please provide a detailed description of the event in the box below)
Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company, announces that on 5 August 2020 the Company repurchased US$2,434,000 of Avation Capital S.A. 6.5% senior notes due 2021 issued under Avation's global medium term note programme. The notes were acquired through the market at a price equal to 71 per cent of face value and will be cancelled.

Avation has received a question from a bondholder on media concerning Virgin Australia Holdings Ltd (in Administration) planned future operations. As previously advised, the Company expects that its four remaining ATR 72-500 aircraft leased to Virgin will be returned and the company is remarketing these aircraft to airlines for lease or sale. The Company advises that it is not aware of any decision to return its remaining five ATR 72-600 aircraft that are leased to Virgin. The Company has an agreement with the Administrator so as to ensure that these aircraft are being properly maintained and stored. The Company will liaise with Virgin regarding the continued use of the five ATR 72-600 aircraft and will provide further updates when appropriate.