Legal advisors Linklaters supported Avation PLC in its first US-dollar bond issuance, raising US$300 million under its newly established US$1 billion GMTN Programme. This issuance marks a significant milestone for the Singapore-based aircraft leasing company, which is listed on the London Stock Exchange. Notably, it is among the first such high-yield aviation deals from Singapore since 2020, signifying a revival in the regional high-yield market.
The transaction was led by Amit Singh, Head of South and Southeast Asia Capital Markets at Linklaters, along with counsel Xunming Lim. Singh expressed pride in advising on this landmark deal, emphasizing the firm’s expertise in complex financing and its role in pioneering Asian high-yield aviation bonds. The bond was issued with an 8.5% coupon, with maturity set for 2031, showcasing the confidence of global investors in Asian aircraft leasing companies.
This successful issuance not only strengthens Avation’s financial position but also signals growing investor appetite for high-yield aviation securities in Asia. It opens new opportunities for financing aircraft assets and sets a benchmark for future transactions in this sector, fostering further development of the Asian aircraft leasing and finance market.
