About the Issuer
AAT is the largest independent flight simulator training
business in the southern hemisphere and has been
operating for over the last 40 years. Based in Tullamarine,
Victoria, AAT plays an integral role in the aviation industry
as part of the airline and pilot compliance obligations
required under the Civil Aviation Safety Authority (CASA)
and the International Civil Aviation Organisation (ICAO).
The issuer need
AAT had identified domestic and international strategic
opportunities to expand both their fleet of SIMs and
footprint within the Asia-Pacific region to capture a unique
position within a high growth region. The Company’s
existing funding arrangements were not able to facilitate
the growth opportunity that had been identified, and as
such AAT was seeking a partner that would be able to
tailor a funding solution to fit within the Company’s
broader strategic plans.
The FIIG solution
The Senior Unsecured Notes enabled AAT to improve
operational flexibility and allow reinvestment of cash
generated into new growth opportunities. The bond
provided the group with their core long-term debt funding
requirement and allowed for short-term working capital
funding to be provided by their bank.
Client testimonial
AAT’s CEO, David Garside said “the funds are expected to
primarily replace the company’s existing debt facility with
a more optimum financing instrument that provides us the
flexibility to reinvest our cashflow into various growth
opportunities available to the business.”