DLA Piper advises Avation PLC on US$50 million Tap Issue

DLA Piper has advised commercial aircraft leasing company, Avation PLC, on its US$50 million Rule 144A tap issue of 6.5% Senior Notes due 2021, under its existing US$1 billion Global Medium Term Note Program. The Notes were issued by Avation Capital S.A., its wholly-owned Luxembourg subsidiary.

Avation successfully issued the tap with an improved credit rating from Standard & Poors. The transaction was a key component of the company's ongoing growth and fleet expansion strategy.

The transaction was led by DLA Piper's Managing Partner in Singapore, Joe Bauerschmidt, supported by Corporate senior associate Oscar Franklin Tan and trainee solicitors Lucy Carr and Josie Millichamp.

They were assisted by a team in London comprising Finance, Projects and Restructuring partner Ronan Mellon, legal director Joywin Mathew, associates James Tighe and Emma Jones, along with Tax partner Kelly Lovegrove, and senior associate Melissa Lim.