AWAS lowers $411m loan pricing to 275bps

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AWAS repriced today its $411 million 2010 term loan and tightened the original spread to 275 basis points (bps) with a Libor floor of 75 bps.

The lessor originally priced the loan, which is due in June 2016, at 400 bps with a Libor floor of 125bps.

"The transaction was oversubscribed by nearly $200 million reflecting strong market interest in AWAS debt fuelled by its recent strong year-end 2012 results," says the lessor.

Joint arrangers on the repricing are JP Morgan, Goldman Sachs and Credit Agricole Investment Banking.