newstodate.aero
Dec 10, 2015 (newstodate): West Atlantic has successfully placed an issue of senior secured bonds in the amount of SEK 850 million, maturing in December 2019.
Despite a generally not overly-enthusiastic environment among investors, nearly 100 institutional and private wealth investors from all the Nordic countries as well as from the UK and Continental Europe participated in the oversubscribed issue.
With the fresh capital injection, West Atlantic will redeem all bonds under its outstanding bond loan of SEK 500 million and still have money in the sack for fleet development purposes and to support the ongoing merger process between the constituent parts of the West Air Group based in Sweden and Atlantic, respectively.
-The market in general is a mess so we were very happy that we were oversold, and this in record-quick time. We can now repay the existing SEK 500m bond, and the remaining will be earmarked for expansion into further Boeing 737 and 767 operations, says Russell Ladkin, West Atlantic West Atlantic Director Sales & Operations.
Despite a generally not overly-enthusiastic environment among investors, nearly 100 institutional and private wealth investors from all the Nordic countries as well as from the UK and Continental Europe participated in the oversubscribed issue.
With the fresh capital injection, West Atlantic will redeem all bonds under its outstanding bond loan of SEK 500 million and still have money in the sack for fleet development purposes and to support the ongoing merger process between the constituent parts of the West Air Group based in Sweden and Atlantic, respectively.
-The market in general is a mess so we were very happy that we were oversold, and this in record-quick time. We can now repay the existing SEK 500m bond, and the remaining will be earmarked for expansion into further Boeing 737 and 767 operations, says Russell Ladkin, West Atlantic West Atlantic Director Sales & Operations.