The decision to repurchase the group's unsecured debt at a significant discount to face value is a sensible action in our view. With the price of 71c - 81c in the US$, the move presents a compelling return on equity. In the wider context, Avation has come through a challenging couple of years and is now well-positioned with a robust platform to benefit from improving market dynamics for aircraft lessors. Our estimate of fair value for the shares stands at 185p.
20 Oct 2022
Avation (AVAP) – Tender offer for loan notes
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Avation (AVAP) – Tender offer for loan notes
Avation PLC (AVAP:LON) | 114 -3.4 (-2.6%) | Mkt Cap: 80.7m
- Published:
20 Oct 2022 -
Author:
John Cummins | Charlie Cullen -
Pages:
4
The decision to repurchase the group's unsecured debt at a significant discount to face value is a sensible action in our view. With the price of 71c - 81c in the US$, the move presents a compelling return on equity. In the wider context, Avation has come through a challenging couple of years and is now well-positioned with a robust platform to benefit from improving market dynamics for aircraft lessors. Our estimate of fair value for the shares stands at 185p.