Aguila 3 won’t redeem 7 7/8% notes on Jan. 31, might redeem them later

By Tali Rackner

Norfolk, Va., Jan. 26 – Aguila 3 SA will not redeem its CHF 350 million 7 7/8% senior secured notes due 2018 and $945 million 7 7/8% senior secured notes due 2018 on Jan. 31, according to a notice.

The redemption was conditioned on HNA Group Co., Ltd. acquiring Aguila 2 SA, which is the parent company of Aguila 3, and the issuer obtaining financing sufficient to redeem the notes. The acquisition has yet happened.

The company extended the deadline for the exercise of the early redemption option to Feb. 27.

The new redemption date, redemption prices and record date will be set at a later time.

Citibank, NA, London Branch is the agent.

Aguila is a Luxembourg-based airport services provider.

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