16 April 2018
BBA Aviation plc announces the completion of bank refinancing
BBA Aviation plc ("the Group"), a market-leading provider of global aviation support and aftermarket services, is pleased to announce the refinancing of one of the Group's existing bank facilities.
The Group has successfully refinanced its $650 million unsecured multicurrency revolving credit facility ("RCF") due to mature in April 2019, with a new facility which will expire in March 2023. The new RCF has been agreed predominantly with the Group's existing lenders. The overall weighted average interest cost of the new arrangement is in line with the existing facility.
David Crook, BBA Aviation Finance Director commented "We are pleased to have secured the bank refinancing which provides the Group with long-term financing to support the execution of our growth strategy."
The Group will publish its Q1 trading update on 11 May 2018
BBA Aviation plc
David Crook, Group Finance Director
Kate Moy, Head of Investor Relations and Communications
(020) 7514 3999
Information on BBA Aviation plc
BBA Aviation plc is a market leading, global aviation support and aftermarket services provider, primarily focused on servicing the Business and General Aviation (B&GA) market. We support our customers through three principal businesses: Signature Flight Support and Signature TECHNICAirTM which provide premium, full service flight and home base support including refuelling, ground handling and MRO services through the world's largest fixed base operation (FBO) network for B&GA users with around 200 locations covering key destinations in North America, Europe, South America, Caribbean, Africa and Asia. Ontic is a leading provider of high-quality equipment and cost-effective solutions for the continuing support of maturing and legacy aerospace platforms with locations in the USA, Europe and Asia. Engine Repair & Overhaul/Global Engine Services is a leading independent engine service provider to global B&GA operators, the rotorcraft market and regional airline fleets with locations in the USA, Europe, South America, Asia and the Middle East. For more information, please visit www.bbaaviation.com
This information is provided by RNS