Signature Aviation launches $1.1 billion loan at SOFR plus 400 bps

By Sara Rosenberg

New York, June 6 – Signature Aviation plc (Brown Group Holding LLC) held a lender call at 1 p.m. ET on Monday to launch a $1.1 billion seven-year term loan B-2 that is talked at SOFR plus 400 basis points with a 0.5% floor and an original issue discount of 96, according to a market source.

The term loan has 101 soft call protection for six months and 0 bps CSA, the source said.

Expected term loan ratings are B1/B+.

RBC Capital Markets is the lead on the deal.

Commitments are due at 5 p.m. ET on Thursday, the source added.

Proceeds will be used to fund the acquisition of the FBO and hangar portfolio of Truman Arnold Cos. (TAC Air).

Signature Aviation is a London-based aviation services company.

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