Street Calls of the Week
SINGAPORE - Aircraft leasing company Avation PLC (LSE:AVAP) announced Tuesday that its wholly-owned subsidiary, Avation Group (S) Pte. Ltd., has established a new US$1 billion global medium-term note program.
The program, guaranteed by Avation PLC, will allow the Singapore-based subsidiary to issue notes denominated in various currencies. HSBC has been appointed as lead arranger, while HSBC and Wells Fargo Securities will serve as initial dealers.
Notes issued under the program may come in various amounts and tenors, potentially bearing fixed, floating, variable, or hybrid interest rates, or no interest at all, according to the company’s press release.
Avation Group (S) Pte. Ltd., incorporated in Singapore in November 2013, functions as the principal group holding company in Singapore and represents the group in the Singapore Aircraft Leasing Scheme.
The company has applied for permission to list and quote the notes on the Singapore Exchange Securities Trading Limited (SGX-ST). Admission to the Official List of the SGX-ST will occur when the notes are officially admitted.
The notes have not been registered under the U.S. Securities Act and cannot be offered or sold in the United States except to qualified institutional buyers under specific exemptions.
Avation PLC is a commercial passenger aircraft leasing company listed on the London Stock Exchange.
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