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Last checked at 
3 Mar 2015 07:00
RNS: CLA March 3, 2015
CAPITAL LEASE AVIATION PLC
("CLA" or "the Company")
Finance Facilities
Capital Lease Aviation PLC (CLA: AIM), the commercial passenger aircraft leasing company advises that it has provided a loan of US$ 8.2m to a subsidiary of Avation PLC, a substantial shareholder in the Company, on the following terms and conditions:
· The term of the loan expires on 30 June 2015 but may be repaid earlier at the borrower's option; the loan is callable by CLA on 20 business days' notice;
· The Loan is unsecured;
· The interest rate is one month USD LIBOR plus a margin of 3.95%; and
· Interest is paid on a monthly basis.
In addition, the Company and Avation have also agreed a standby cash arrangement allowing loans between CLA and Avation to be made up to a limit of $3m at any one time at an annual interest rate of 5.5 per cent.
The loan and the standby cash arrangement are related party transactions under the AIM rules as Avation is a substantial shareholder in the Company. With the exception of Jeff Chatfield and Richard Wolanski who are office holders of Avation, the directors of the Company, consider, having consulted with the Company's nominated adviser, WH Ireland, that the terms of the transactions are fair and reasonable in so far as the shareholders are concerned.
-ENDS-
Enquiries:
The Company - Jeff Chatfield Executive Chairman +65 6252 2077
WH Ireland -James Joyce /James Bavister +44 20 7220 1666
Blytheweigh - Tim Blythe / Eleanor Parry +44 20 7138 3204
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