StandardAero tenders for any and all $300 million 11¼% notes due 2015

By Jennifer Chiou

New York, Jan. 21 - StandardAero announced that indirect parent DAE Aviation Holdings Inc. began a cash tender offer to purchase any and all of its $300 million of outstanding 11¼% senior notes due 2015.

The company is also soliciting consents for amendments that would eliminate substantially all of the restrictive covenants and certain default provisions contained in the indenture governing the notes.

The offer will expire at 11:59 p.m. ET on Feb. 18.

For each $1,000 principal amount, the company is offering $1,007.50, including a $30.00 consent payment for those who tender prior to 5 p.m. ET on Feb. 3.

The company will also pay accrued interest to the payment date.

Settlement is expected on Feb. 14.

The offer is conditioned on, among other things, financing.

Participating holders may not deliver consents without tendering their notes.

D.F. King & Co., Inc. is the tender agent and information agent (800 431-9643 or 212 269-5550 for banks and brokers). Barclays is the dealer manager and solicitation agent (800 438-3242 or call collect 212 528-7581).

StandardAero is a Tempe, Ariz.-based company that specializes in engine maintenance, repair, overhaul and nose-to-tail services for business and general aviation, air transport and military aircraft.

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