Signature Aviation launches $400 million term loan at 98-98.5 OID

By Sara Rosenberg

New York, April 25 – Signature Aviation plc held a lender call at 2 p.m. ET on Tuesday to launch a fungible $400 million add-on term loan B-2 due 2029 that is talked with an original issue discount of 98 to 98.5, according to a market source.

Pricing on the add-on term loan is SOFR plus 375 basis points with a 0.5% floor.

RBC Capital Markets is the left lead on the deal.

Commitments are due at noon ET on Friday, the source added.

Proceeds will be used to fund a dividend.

Signature Aviation is a London-based aviation services company.

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