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NEW YORK, April 8, 2021 /PRNewswire/ -- Signature Aviation US Holdings, Inc. (the "Offeror"), a Delaware corporation and wholly-owned subsidiary of Signature Aviation plc ("Signature"), announces that it has launched a tender offer to purchase for cash (the "Tender Offer") any and all of its outstanding 4.000% Senior Notes due 2028 (the "Notes"). The Offeror continues to evaluate alternatives in respect of its outstanding 5.375% notes due May 1, 2026, including potential call options.
The Tender Offer is being conducted in connection with the previously announced proposed acquisition of the entire issued and to be issued share capital of Signature (the Offeror's parent company and a guarantor of the Notes), other than shares in Signature owned or controlled by Cascade Investment, L.L.C. and the Bill & Melinda Gates Foundation Trust, by Brown Bidco Limited ("Bidco") and Brown Group Holding, LLC (the "Initial Borrower"), newly formed entities to be indirectly and jointly owned by joint offerors comprising (i) funds advised by Blackstone Infrastructure Advisors L.L.C. and funds advised by Blackstone Core Equity Management Associates L.L.C., (ii) Global Infrastructure Management, LLC and (iii) Cascade Investment, L.L.C., to be effected by means of a court-sanctioned Scheme of Arrangement under Part 26 of the U.K. Companies Act 2006 (the "Scheme") (as amended, supplemented, waived or otherwise modified from time to time, the "Acquisition"). The Offeror's obligation to accept and pay for the Notes in the Tender Offer is conditioned upon the closing of the Acquisition.