• by  • August 3, 2015 • Amedeo


    Acquisition of Asset

    3 August 2015

    As anticipated in the Company’s Prospectus dated 30 April 2015 (the “Prospectus”) Amedeo Air Four Plus Limited (the “Company”), via its wholly-owned subsidiary AA4P Gamma Limited (“AA4PG”), has today on 3 August 2015 purchased directly from Airbus one A380 aircraft bearing manufacturer’s serial number 187 (the “Aircraft”) at a net cost to the Company of US$ 275,000,000.  In accordance with the Investment Process outlined in the Prospectus, the Aircraft is the first of the two Second Tranche Assets to be acquired by the Company, with the second expected to be acquired in November 2015.

    In connection with the acquisition of the Aircraft, AA4PG drew down senior debt financing in accordance with a senior loan agreement entered into with a syndicate of lenders (led by Qatar National Bank and Westpac Banking Corporation) in the amount of US$170,000,000 as well as junior debt financing in the amount of US$40,000,000 pursuant to a junior loan agreement entered into with Qatar National Bank. Upon delivery, AA4PG also entered into an Aircraft Operating Lease with Emirates airline (“Emirates”) pursuant to which the Aircraft has been leased to Emirates for a term of 12 years, with fixed lease rentals for the duration. Following this purchase, the Company therefore now owns three A380s which have all been leased to Emirates.

    About the Company

    The Company is a Guernsey-domiciled company, with shares admitted to trading on the Specialist Fund Market (“SFM”) of the London Stock Exchange plc. (LSE:AA4).

    The Company’s investment objective is to obtain income returns and a capital return for its Shareholders by acquiring, leasing and then selling aircraft (the “Assets”).

    To pursue its investment objective, the Company will seek to use the net proceeds of placings and/or other equity capital raisings, together with debt facilities (or instruments), to acquire widebody, or other, aircraft which will be leased to one or more major airlines.

    The Company aims to provide Shareholders with an attractive total return comprising income, from distributions through the period of the Company’s ownership of the Assets, and capital, upon the sale of the Assets.
    It is anticipated that income distributions will be made to Shareholders quarterly, subject to compliance with applicable laws and regulations.  In line with the Distribution Policy the Directors of the Company declared a first interim dividend of 2.0625 pence per Share in July 2015. The Company targets a distribution to investors of 2.0625 pence per Share per quarter (amounting to a yearly distribution of 8.25 per cent. as pro rated from the date of Admission to 31 December 2015, based on the Issue Price of 100 pence per Share) at least until such time as any aircraft other than the Initial Assets are acquired. The next declaration of the quarterly dividend as stated above is anticipated to be made in early October 2015.

    Defined terms used in this announcement shall have the same meaning as ascribed to them in the Company’s Prospectus dated 30 April 2015.