Published on 1/27/2014 in the Prospect News High Yield Daily.
New Issue: Bond Aviation prices £60 million tap of its Libor plus 575 bps notes due 2019 at 99
By Paul A. Harris
Portland, Ore., Jan. 27 - Bond Aviation priced a £60 million add-on to the Bond Mission Critical Services plc Libor plus 575 basis points senior secured floating-rate notes due May 1, 2019 (B2/B/) at 99 on Monday, according to a market source.
JPMorgan and KKR were the joint bookrunners.
The issuer is a Staverton, England-based helicopter services provider.
| Issuer: | Bond Mission Critical Services plc (Bond Aviation)
|
| Amount: | £60 million
|
| Maturity: | May 1, 2019
|
| Security description: | Add-on to senior secured floating-rate notes due May 1, 2019
|
| Bookrunners: | JPMorgan, KKR
|
| Coupon: | Libor plus 575 bps
|
| Price: | 99
|
| Trade date: | Jan. 27
|
| Settlement date: | Feb. 3 with accrued interest
|
| Ratings: | Moody's: B2
|
| Standard & Poor's: B
|
| Distribution: | Rule 144A and Regulation S for life
|
| Original issue: | £200 million priced at 99.75 on May 2, 2013
|
| Total issue size: | £260 million
|
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