Last checked at 17 Jan 2017 07:00
AVAP.LN via RNS Reach
AVATION PLC
("Avation" or "the Company")
JUNIOR FINANCE FOR THREE AIRCRAFT
Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company advises that Tamweel Aviation Finance has made a press release concerning junior finance for the purchase of three aircraft.
The text of the press release is as follows:
"Novus' TAF finances three A321-200s for Avation PLC delivered to VietJet
Dubai, UAE - January 16, 2017: Tamweel Aviation Finance (TAF) has closed the financing of the third of a three-A321-200 new aircraft facility for Avation PLC (AVAP.LN), the London LSE listed and Singapore based lessor. All three aircraft are on long-term operating leases with fast-growing Vietnamese low-cost carrier VietJet Air.
TAF is the finance leasing platform managed by Novus Aviation Capital (Novus) which brings together a partnership of Airbus SAS (Airbus), the Development Bank of Japan Inc (DBJ) and Norddeutsche Landesbank Girozentrale (Nord/LB) to provide attractive high LTV mezzanine financing to the world's airlines and lessors for Airbus products. Having just completed three years of successful operation, TAF has grown to a portfolio size of more than US$1 billion of assets by market value.
"We are very pleased to add Avation to the growing list of customers of Novus dedicated financing platform," said Mounir Kuzbari, Managing Director at Novus.
"A key driver of Avation's profitability is the overall cost of finance and the amount of leverage. TAF's mezzanine facilities are a useful leverage tool for transactions of this nature," said Jeff Chatfield, Executive Chairman at Avation PLC.
-ENDS-
About Novus Aviation Capital:
Novus is an independent, privately-held aircraft leasing platform, focused on investing in commercial aircraft assets. Established over 22 years ago, the Novus team operates out of its five global offices in the Middle East, Europe and Asia. The company currently co-owns and manages aircraft-related projects worth about USD 3 billion.
For more information, please visit: www.novus.aero
About Avation PLC (AVAP.LN):
More information on Avation can be seen at: www.avation.net
Avation PLC is a commercial passenger aircraft leasing company owning and managing a fleet of jet and turbo prop aircraft which it leases to airlines across the world. The Company's customers include Vietjet Air, Thomas Cook, Air France, Condor Flugdienst, Air Berlin, Virgin Australia Airlines, Fiji Airways and UNI Air. "