(Alliance News) - Signature Aviation PLC on Thursday announced the early tender results and receipt of requisite consents in relation to its outstanding 4.0% senior notes due 2028.
The aviation services company headquartered in London launched the offer on April 9 after markets closed to buy all of its 4.0% senior notes for cash. It said it has now received consent solicitation to make amendments to the indenture related to the notes.
Signature Aviation said the tender offer is being conducted in connection with the proposed acquisition of Signature by Brown Bidco Ltd, which is expected to complete in the second quarter of 2021.
Back in February, Brown Bidco and Signature Aviation reached agreement on a recommended cash acquisition by Bidco of Signature. The offer values Signature at USD4.73 billion, about GBP3.46 billion.
Earlier this month, Brown Bidco said HSBC Bank US, National Association agreed to become a lender in relation to its acquisition of Signature.
Brown Bidco is a newly formed company indirectly owned by Blackstone Infrastructure, Blackstone Core Equity, Global Infrastructure Partners and Cascade Investment LLC.
Shares in Signature Aviation were up 0.4% at 402.30 pence in London on Thursday.
By Zoe Wickens; zoewickens@alliancenews.com
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