Signature Aviation flexes $1.66 billion term B-2 to SOFR plus 300 bps

By Sara Rosenberg

New York, Jan. 11 – Signature Aviation plc lowered pricing on its $1.663 billion term loan B-2 due July 2029 (B2/B+) to SOFR plus 300 basis points from SOFR plus 325 bps, 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 term loan still has a 0.5% floor, a par issue price for the repricing, an original issue discount of 99.75 for new money orders and 101 soft call protection for six months.

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

Commitments continue to be due at noon ET on Friday, the source added.

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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