14-Jun-2010 10:20 AM

AWAS successfully closes USD530m term loan

AWAS Aviation Capital Limited (AWAS) announced (11-Jun-2010) it has issued a USD530 million senior secured term loan maturing in Jun-2016 in the US Capital Markets and has used the proceeds to refinance two secured credit facilities. The term loan is secured by a diverse portfolio of 30 aircraft on lease to 18 lessees in 12 countries. The portfolio comprises 51% Boeing aircraft and 49% Airbus aircraft (with a combined 86% of the aircraft being narrowbody) and with 76% of the pool being highly liquid types, including A320 family and B737NG aircraft. The AWAS issue was assigned a 'BBB-' rating by Standard & Poor's and Ba2 by Moody’s, both with stable outlooks. [more]