BBA Aviation PLC Pricing of senior notes offering (5425R)

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RNS Number : 5425R

BBA Aviation PLC

30 October 2019

NOT FOR PUBLICATION OR DISTRIBUTION IN OR INTO CANADA, JAPAN OR AUSTRALIA.

THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY SECURITIES OF BBA AVIATION PLC. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.

BBA Aviation announces pricing of its senior notes offering

BBA Aviation, together with its subsidiaries (the "Group"), a market-leading provider of global aviation support and aftermarket services, is pleased to announce the pricing of an offering of $650 million principal amount of 4.00% senior unsecured notes due 2028 (the "Offering"). The Notes will be issued by a wholly-owned subsidiary of BBA Aviation plc and guaranteed by BBA Aviation plc and another wholly-owned Group subsidiary. The Offering is expected to close on 1 November 2019.

The Group intends to use the proceeds from the Offering, to prepay existing debt under the 2019 Term Loan facility and partly prepay the Facility C Term Loan due to be repaid in September 2020.

David Crook, BBA Aviation Finance Director commented: "We are pleased to have completed a further unsecured bond issue, after our successful inaugural offering in April 2018. This will further align our debt maturity profile with the long-term nature of the Signature FBO lease portfolio."

Notes:

The Group will publish its Q3 trading update on 13 November 2019.

Enquiries:

BBA Aviation plc

David Crook, Group Finance Director

Kate Moy, Head of Investor Relations and Communications

(020) 7514 3999

Tulchan Communications

David Allchurch

(020) 7353 4200

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, Ontic and Global Engine Services/Engine Repair and Overhaul (ERO).

Signature, including Signature FBO, TECHNICAir(TM) and EPIC Fuels, provides 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. EPIC Fuels is a provider of aviation fuels, supplies and services operating at more than 200 locations.

On 1 March 2018, BBA Aviation announced that it was conducting a strategic review of the ERO business and, at the end of May 2018, management committed to a plan to sell substantially all of the business and the relevant assets and liabilities were classified as held for sale. The sale process is ongoing.

On 30 July 2019, BBA Aviation announced the proposed sale of Ontic to CVC Fund VII, subject to shareholder and regulatory approvals. Subject to approvals the sale is expected to close during Q4 2019 (or as soon as practicable thereafter). For more information, please visit www.bbaaviation.com

Important Information

NOT FOR PUBLICATION OR DISTRIBUTION IN OR INTO CANADA, JAPAN OR AUSTRALIA.

Certain statements made in this announcement are forward-looking statements. Such statements are based on current expectations and assumptions and are subject to a number of risks and uncertainties that could cause actual events or results to differ materially from any expected future events or results expressed or implied in these forward-looking statements. Persons receiving this announcement should not place undue reliance on forward-looking statements. Unless otherwise required by applicable law, regulation or accounting standard, the Group does not undertake to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.

These materials are not an offer of securities for sale in the United States. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. There is no intention to register any securities referred to herein in the United States or to make a public offering of the securities in the United States. Any decision to invest in the notes offered in the Offering must be made solely based on the information in the Offering Memorandum.

This announcement is for informational purposes only and is directed only at persons who are: (a) persons in member states of the European Economic Area (the "EEA") who are qualified investors (as defined in Regulation (EU) No. 2017/1129); (b) persons in the United Kingdom who are qualified investors and who are (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"); or (ii) persons falling within Article 49(2) (a) to (d) of the Order ("high net worth companies, unincorporated associations, etc."); or (iii) persons to whom an invitation or inducement to engage in investment activity (within the meaning of Section 21 of the Financial Services and Markets Act 2000) in connection with the issue or sale of any senior secured notes may otherwise be lawfully communicated or cause to be communicated (all such persons in (a) and (b) together being referred to as "relevant persons"). This announcement must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this announcement relates is available only to relevant persons and will be engaged in only with relevant persons.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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