NEW YORK, May 28, 2021 /PRNewswire/ — Signature Aviation US Holdings, Inc. (the “Issuer”), a Delaware corporation and wholly-owned subsidiary of Signature Aviation plc (“Signature”), announces the extension of the redemption date for its previously announced election to redeem in full (the “Redemption”), subject to the satisfaction or waiver of certain conditions, its outstanding $500,000,000 5.375% Senior Notes due 2026 (the “Notes”) upon the terms of, and subject to the conditions set forth in, the Notice of Full Conditional Redemption sent to the holders of the Notes on April 30, 2021 (the “Redemption Notice”) in accordance with the requirements under the indenture related to the Notes.
The Redemption Date was initially June 1, 2021. The Redemption is conditioned on the satisfaction or waiver of the Acquisition Condition and the Financing Condition (as defined in the Redemption Notice), which will not be satisfied on or before June 1, 2021. As a result, in accordance with the Redemption Notice, the date fixed for Redemption is now June 7, 2021, unless further delayed (such date, as may be further extended, the “Redemption Date”), on which date the Issuer currently expects the conditions to be satisfied or waived. On the Redemption Date, the Notes will be redeemed at a redemption price equal to 102.68750% of the aggregate principal amount plus accrued and unpaid interest, if any, to but not including the Redemption Date. Defined terms used but not defined in this announcement have the meanings set forth in the Redemption Notice.
Other than as stated above, the terms of the Redemption are unchanged from those stated in the Redemption Notice, and noteholders should read that document as supplemented by this announcement.
This press release does not constitute an offer to sell any securities or the solicitation of an offer to purchase any securities. The Redemption is being made only pursuant to the Redemption Notice dated April 30, 2021.
The Bank of New York Mellon Trust Company, N.A.is acting as trustee and paying agent (the “Trustee and Paying Agent”) for the Redemption. Questions or requests relating to the Redemption may be directed to the Trustee and Paying Agent at The Bank of New York Mellon Trust Company, N.A., 4655 Salisbury Road, Suite 300, Jacksonville, FL 32256.
About Signature Aviation plc
Signature is a leading global fixed-base operator (“FBO”) network for business and general aviation (“B&GA”) travelers and provides premium, full-service flight support, including fuel and non-fuel services, ground handling and technical support for passengers, crew and aircraft. Signature serves customers at more than 360 FBO locations covering key markets in North America, Europe, South America, the Caribbean, Africa and Asia. Following the sale of Ontic on October 31, 2019 and with the ongoing process to sell its engine repair and overhaul business, the Board of Directors of Signature elected to rename the group from BBA Aviation plc to Signature Aviation plc to better align it with its most significant brand in its core market.
Complementary to the core Signature Flight Support FBO business, Signature also comprises EPIC and TECHNICAir. EPIC provides fuel and fuel related services at FBOs across North America including fuel purchasing cards and transaction processing. TECHNICAir provides aircraft maintenance, repair and overhaul with locations throughout the United States and Europe, specialising in small to mid-size, turbine-powered business aircraft.
Signature is listed on the London Stock Exchange. Signature is a public limited company incorporated under the laws of England and Wales and is registered under company number 53688. Signature’s registered office is located at 105 Wigmore Street, London, W1U 1QY, England.
The Issuer is a wholly-owned subsidiary of Signature and is the issuer of the Notes.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of applicable federal securities laws. The forward-looking statements include, without limitation, statements concerning the Redemption, the Acquisition Condition and the Financing Condition. Forward-looking statements are prospective in nature and are not based on historical facts, but rather on current expectations and projections of the management of the Issuer, Signature and Bidco about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. You should not place undue reliance on forward-looking statements as a prediction of actual results. The Issuer, Signature and Bidco expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in expectations or events, conditions or circumstances on which any such statements are based.
SOURCE Signature Aviation plc
