Avation, a lessor of 33 commercial aircraft, has announced that it has successfully priced $300m senior unsecured notes due May 2031 with an 8.5% coupon. The proceeds from the issuance will be used to repay the outstanding $298m 8.25% notes due October 2026, providing increased visibility for the company in its growth strategy. We tweak our estimates to account for the 25bps increase in coupon but view this announcement as being very positive for Avation, providing a solid foundation from which ....
