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AWAS Finance launches extended term loan at Libor plus 325-350 bps
By Sara Rosenberg
New York, March 8 – AWAS Finance launched on Tuesday its extended roughly $245 million term loan due June 2018 with price talk of Libor plus 325 basis points to 350 bps with a 0.75% Libor floor, according to a market source.
The term loan is being extended from June 2016, and pricing on the extended amount is being increased from the current rate of Libor plus 275 bps with a 0.75% Libor floor.
The extended term loan has 101 soft call protection for six months.
Lenders are offered a 75 bps extension fee/original issue discount on rollover/upsized commitments, the source said.
Amortization is 12% per annum based on the principal amount, the source added.
Commitments are due on March 22.
RBC Capital Markets is the lead bank on the extension.
Term loan ratings are Ba2/BBB and corporate ratings are Ba3/BB+.
AWAS is a Dublin-based aircraft leasing company.
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