AWAS Closes Senior Secured Notes Issue

AWAS Aviation Capital Limited (AWAS) has closing the private placement of $600 million in aggregate principal amount of its 7.00% Senior Secured Notes due 2016. A portion of the net proceeds from the private placement of the notes has been used by AWAS to repay existing debt, with the remainder expected to be used to finance new aircraft and general corporate purposes. The notes were offered only to qualified institutional buyers in the US, and only offered to investors outside the United States to non-US persons in reliance on Regulation S under the Securities Act of 1933.