LONDON (dpa-AFX) - BBA Aviation Plc (BBA.L), a provider of global aviation support and aftermarket services, announced Wednesday the pricing of an offering of $650 million principal amount of 4.00% senior unsecured notes due 2028.
The Notes will be issued by a subsidiary of BBA Aviation and guaranteed by BBA Aviation and another subsidiary. The offering is expected to close on November 1.
The company intends to use the proceeds from the Offering to prepay existing debt under the 2019 Term Loan facility and partly prepay the Facility C Term Loan due to be repaid in September 2020.
David Crook, BBA Aviation Finance Director said, 'We are pleased to have completed a further unsecured bond issue, after our successful inaugural offering in April 2018. This will further align our debt maturity profile with the long-term nature of the Signature FBO lease portfolio.'
BBA Aviation will publish its third-quarter trading update on November 13.
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