VAH Announces Additional 2026 Bond Issue and Related Liability Management Activities | New

STAMFORD, Connecticut – (BUSINESS WIRE) – Dec. 2 2021–

Voyager Aviation Holdings, LLC (“VAH”) today announced the issuance of $ 250 million of additional 8.500% Senior Secured Notes due 2026 (the “Notes”). Following the issuance of these notes, the aggregate principal amount outstanding of the Company’s 2026 Notes was $ 412.7 million.

VAH will use a portion of the net proceeds of the offering to repurchase or repay certain senior secured aircraft term loans and related derivative instruments. These transactions are expected to free up approximately 31% of the Company’s fleet, weighted by net book value or finance lease balance, and provide direct collateral for the notes. In addition, the issue will support the Company’s growth plans in 2022 by providing financing for the acquisition of aircraft for which the Company has previously made binding commitments. This new debt issue was fully supported by existing VAH sponsors.

“We are extremely pleased with this transaction as it facilitates a number of strategic objectives for VAH,” said Mike Lungariello, President and CEO of VAH. “It is starting to optimize our current debt capital structure and is also funding our acquisition plans in 2022, thus positioning the Company to take advantage of the improved market environment. “

About VAH:

VAH is a private aviation investment company and commercial aircraft leasing company based in Ireland. Its assets of around $ 2 billion consist mainly of young and modern aircraft.

The Company has a global customer base of major passenger and freight airlines, including Air France, AirBridgeCargo, Breeze Airways, Cebu Pacific, iFly, ITA, Philippine Airlines, Sichuan Airlines and Turkish Airlines.

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CONTACT: Investors: Christian [email protected]

Media: Susan [email protected]



SOURCE: Voyager Aviation Holdings, LLC

Copyright Business Wire 2021.

PUB: 12/02/2021 07:20 / DISC: 12/02/2021 07:21

Copyright Business Wire 2021.

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