Linklaters advises on Avation PLC’s US$300m inaugural issuance under its US$1bn GMTN Programme, marking a significant milestone in the Asian high yield market in the aviation financing sector

Linklaters advised the joint lead managers and joint bookrunners on Avation PLC’s inaugural drawdown of US$300m 8.5% senior unsecured notes due 2031 under its newly established US$1bn Global Medium Term Note Programme (GMTN programme). This landmark issuance marks a significant milestone for Avation, a Singapore-headquartered aircraft leasing company listed on the London Stock Exchange. The transaction is notable as one of the rare high-yield deals originating from Singapore and represents the first Asian (ex China) high yield aviation lessor US dollar bond transaction since 2020.

The Linklaters team was led by partner and Head of South and Southeast Asia Capital Markets Amit Singh, supported by counsel Xunming Lim. 

Linklaters’ Head of South and Southeast Asia Capital Markets Amit Singh commented:

"We are delighted to have supported on this landmark transaction. The successful inaugural issuance of this bond underscores our team’s ability to deliver seamless advice on complex financing structures, reinforcing our position as the leading advisor in high-yield and debt capital markets across Asia." 

Linklaters has a prominent reputation in the Asia capital markets, providing clients with practice expertise and commercial insights to capitalise on opportunities. With one of the largest teams focussed on Southeast Asia, the firm has worked on numerous high-profile and landmark transactions.