General Announcement::REPAYMENT OF ECA LOANS

Issuer & Securities

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

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
07-Sep-2021 16:44:36
Status
New
Announcement Sub Title
REPAYMENT OF ECA LOANS
Announcement Reference
SG210907OTHR3957
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, advises that it has successfully repaid the outstanding export credit agency insured loans associated with the eight ATR 72 aircraft that were previously on lease to Virgin Australia Airlines. The loans have been repaid using a combination of the release of deposits held by the ECAs and a new commercial bank financing package backed by the recently announced leases of three aircraft to Hevilift.

Avation's Executive Chairman, Jeff Chatfield said:" The export credit loans associated with the Virgin Australian aircraft have now been refinanced and retired. It is pleasing that commercial bank lending appears to be reopening."


ENDS-

Enquiries:

Avation PLC Jeff Chatfield, Executive Chairman +65 6252 2077

Avation welcomes shareholder questions and comments and advises the email address is: investor@avation.net

Notes to Editors:
Avation PLC is an aircraft leasing company, headquartered in Singapore, owning and managing a fleet of commercial passenger aircraft which it leases to airlines around the world.

More information on Avation is available at www.avation.net.