Signature Aviation launches $1.66 billion loan at SOFR plus 325 bps

By Sara Rosenberg

New York, Jan. 9 – Signature Aviation plc held a lender call at 2 p.m. ET on Tuesday to launch a $1.663 billion term loan B-2 due July 2029 (B2/B+) that is talked at SOFR plus 325 basis points with a 0.5% floor, according to a market source.

Of the total term loan amount, $1.483 billion is a repricing of the company’s existing term loan B-2 due July 2029, and $180 million is a fungible add-on that will be used primarily to repay revolving credit facilities borrowings.

The repricing portion is talked with a par issue price and the add-on portion is talked with an original issue discount of 99.75, the source said.

The term loan is talked with 101 soft call protection for six months.

RBC Capital Markets is the left lead arranger on the deal.

The repricing will take the existing term loan B-2 down from SOFR plus 375 bps with a 0.5% floor.

Blackstone, Global Infrastructure Partners and Cascade are the sponsors.

Signature Aviation is a London-based aviation services company.

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