Avation PLC (AVAP: LSE), the commercial passenger aircraft leasing company announces that, following the settlement and funding of US$300 million 6.5% senior notes due 2021 issued recently under its global medium term note programme ("GMTN Programme"), it has now issued a redemption notice for US$150 million of the 7.5% senior notes due 2020 ("Notes due 2020") which represents the entirety of the first tranche of notes issued under the GMTN Programme.

The redemption will become effective on 27 May 2018 with payment to noteholders being made on 29 May 2018, in accordance with the terms of the GMTN Programme. Following redemption there will be no Notes due 2020 outstanding.