Ansett Aviation Training - FIIG Debt Issue

Case Study - Ansett Aviation Training

Issue Date

November 2015

Amount

$40 million

Maturity

13 November 2020

Term

5 years

Coupon

7.5%

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.”

Erryn Lloyd-Jones - Head of Debt Capital Markets, Private Debt
Erryn Lloyd-Jones
Head of Debt Capital Markets

(02) 9697 8778
Erryn.Lloyd-Jones@fiig.com.au

A proven track record of opening the Australian bond markets

FIIG has a proven track record of opening the Australian bond markets, having raised over $2.8bn of predominantly unrated bond funding across more than 70 issues.

The Debt Capital Markets team arranges long term, AUD bond financing for rated and unrated Australian and New Zealand corporates. Our funding solutions enable mid-market corporates and large private companies to diversify their funding options and optimise their capital structures.

If you would like to learn more about how FIIG can assist in the growth of your business...

  Contact Erryn Lloyd-Jones on
(02) 9697 8778

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