Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company, announces that, further to the announcement made 9 February 2021, it has today launched a consent solicitation exercise (the “Consent Solicitation”) to the holders (“Noteholders”) of the 6.5% senior notes due May 2021 issued by Avation Capital S.A. under the group’s global medium term note programme (the “Notes”).

The expected timetable for the Consent Solicitation is set out below:

23 February 2021 (T) – launch of Consent Solicitation and the record date for warrants to be issued in connection with the Consent Solicitation (the “Warrants”);

2 March 2021 (T+ 8) – early consent fee expiration date;

5 March 2021 (T+11) – final consent fee expiration date (those that submit consents after this date will not receive a consent fee). Final date by which Noteholders may provide a separate notice with their details for the issue of Warrants to them on the implementation date (“Warrants Notice”);

12 March 2021 (T+18) – expiration date (last date for consents to be submitted);

16 March 2021 (T+22) – implementation and settlement date with payment of 50bps consent fee for early voters and 25bps fee for late voters, and signing of the supplemental trust deed and the other transaction documents including issue of the Warrants to Noteholders who delivered their Warrant Notice by 5 March 2021; and

23 August 2021 – last date holders may submit a Warrant Notice to be entitled to Warrants.

For further information, Noteholders are advised to contact our tabulation and solicitation agent as follows:

D.F. King Limited

In London:
65 Gresham Street
London, EC2V 7NQ
United Kingdom
Telephone: +44 20 7920 9700

In Hong Kong:
Suite 1601, 16/F, Central Tower 28 Queen's Road Central
Hong Kong
Telephone: +852 3953 7208

In New York:
48 Wall Street, 22nd Floor
New York, New York 10005
Banks and Brokers call: +1 (212) 269-5550 All others call toll free: +1 (866) 356-7813. Facsimile: +1 (212) 709-3328
Attention: Andrew Beck
Confirmation: +1 (212) 269-5552

Website: https://sites.dfkingltd.com/avation Email: avation@dfkingltd.com