Avation PLC has established a USD 1 billion Global Medium Term Note (GMTN) programme through its Singapore-based subsidiary, adding a new layer of financial optionality to its leasing business. The structure, governed by Singapore law, allows qualifying non-resident investors to receive interest free of Singapore withholding tax, giving the company access to a deeper, more international pool of fixed-income investors.
Its first issuance under this new programme totals USD 300 million in senior unsecured notes, maturing in May 2031, with an 8.5% coupon. The issuance is guaranteed by the parent and offered in both Reg S and Rule 144A formats, allowing global participation.
The move comes at a time when all 33 aircraft in its fleet were leased out as of 30 June 2025, with placements spanning 16 airlines in 14 countries. This full utilisation forms a credible base from which to issue unsecured debt, signalling both operational strength and underlying demand. Avation’s order book supports this view, with ten ATR 72-600 aircraft on firm order and rights to purchase 24 more.
Avation PLC (LON:AVAP) is a commercial passenger aircraft leasing company owning a fleet of aircraft which it leases to airlines across the world. Avation’s future focus are new technology low CO2 emission aircraft.
