(Sharecast News) - Signature Aviation's wholly-owned United States subsidiary, Signature Aviation US Holdings, launched a tender offer to purchase its outstanding 4% senior notes due 2028 overnight.
The FTSE 250 company said the division was also seeking consent solicitation to make amendments to the indenture of the notes.
"The tender offer and consent solicitation are being conducted in connection with the previously-announced proposed acquisition of the entire issued and to be issued share capital of Signature by Brown Bidco - a newly formed company to be indirectly owned by joint offerors Blackstone Infrastructure and Blackstone Core Equity, Global Infrastructure Partners and Cascade," the board said in its statement.
"The proposed amendments would make certain amendments to the indenture related to the notes in connection with the acquisition."
Signature said its obligations under the tender offer and the consent solicitation were conditional on a number of conditions precedent, including the consummation of the acquisition, which was expected in the second quarter.
At 0836 BST, shares in Signature Aviation were up 0.44% at 409.3p.
26 Mar 2015 11:36