Signature Aviation changes $400 million term loan OID to 99

By Sara Rosenberg

New York, April 27 – Signature Aviation plc revised the original issue discount on its fungible $400 million add-on term loan B-2 (B2) due July 2, 2029 to 99 from talk in the range 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.

The add-on term loan has 101 soft call protection for six months.

RBC Capital Markets is the left lead on the deal.

Recommitments were scheduled to be due at 3 p.m. ET on Thursday, changed from a revised deadline of 1 p.m. ET on Thursday and an initial deadline of 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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