Signature Aviation flexes $1.1 billion term loan to SOFR plus 375 bps

By Sara Rosenberg

New York, June 9 – Signature Aviation plc (Brown Group Holding LLC) lowered pricing on its $1.1 billion seven-year term loan B-2 (B1/B+) to SOFR plus 375 basis points from SOFR plus 400 bps, according to a market source.

Furthermore, the original issue discount on the term loan was tightened to 97.5 from 96, the source said.

The term loan still has a 0.5% floor, 101 soft call protection for six months and 0 bps CSA.

RBC Capital Markets, Barclays, HSBC Securities (USA) Inc., MUFG, Banco Santander, Truist Securities, JPMorgan Chase Bank, SMBC and Blackstone Securities Partners are the leads on the deal.

Recommitments were scheduled to be due at 1:30 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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