VAH Announces Issuance of Additional 2026 Notes and Related Liability Management Activities

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

VAH will use part of the net proceeds from the offering to repurchase or repay certain first lien secured aircraft term loans and related derivative instruments. These transactions are expected to unencumber approximately 31% of the Company’s fleet, weighted by net book value or finance lease balance, and provide direct collateral for the Notes. Additionally, the issuance will support the Company’s 2022 growth plans by providing funding for the acquisition of aircraft for which the Company has previously entered binding commitments. This new debt issuance was fully supported by VAH’s existing 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 begins to optimize our current debt capital structure and also funds our 2022 acquisition plans, thereby positioning the Company to take advantage of the improving market environment.”