Our firm advised Avia Solutions Group (“ASG”), the leading aviation services group from Central and Eastern Europe, with respect to an English law guarantee, in connection with the issuance of guaranteed notes. The team’s services included advising on all Cyprus law aspects of the guarantee granted by ASG and issuing a legal opinion.
 
Specifically, our team advised ASG in organising a five-year bond issue of high yield Rule 144A/Regulation S US$300 million 7.875% guaranteed notes due 2024 (the “Notes”). The Notes were issued by ASG Finance Designated Activity Company in US dollars and guaranteed by, amongst others, ASG. The banks which were involved were BNP Paribas and JP Morgan Securities plc. The Notes are listed on the global exchange market of Euronext Dublin. According to ASG, the proceeds will be used for further business development: purchase and rental of aircraft, purchase and dismantling of aircraft engines, purchase of flight simulators.
 
ASG is a global multi-service aviation holding and one of the largest aerospace servicing companies in the world. ASG, which had received BB ratings from both Standard & Poor’s and Fitch, became the second company from Lithuania to achieve such impressive results in bond issue.