Nov 19 (Reuters) - Regional Express Holdings Ltd REX.AX :
* -REX SIGNS BINDING AGREEMENT WITH PAG ON FUNDING-REX.AX
* FUNDING COMPRISES FIRST RANKING SENIOR SECURED CONVERTIBLE NOTES
* SIGNED AGREEMENT WITH PAG REGULUS THAT WILL SEE AN INVESTMENT BY PAG OF UP TO AUD150 MILLION
* AN INITIAL FUNDING TRANCHE OF AUD50 MILLION WILL BE DRAWN DOWN TOWARDS EARLY JANUARY 2021
* UPON COMPLETION, PAG WILL BE ENTITLED TO NOMINATE TWO DIRECTORS TO REX BOARD
* PREPARATIONS FOR DOMESTIC OPERATIONS ARE PROCEEDING TO PLAN WITH FIRST BOEING 737 800NG AIRCRAFT DELIVERED ON 5 NOV
* WILL DEBUT ON SYDNEY-MELBOURNE ROUTE WITH 3 AIRCRAFT ON 1 MARCH 2021 & RAMP UP TO 5 AIRCRAFT BY EASTER
* CREW WILL CARRY OUT TRAINING ON BOEING 737 800NGAIRCRAFT OVER NEXT 3 WEEKS BEFORE CASA PROVING FLIGHT ON 2 DECEMBER
* FIVE OTHER SIMILAR BOEING 737 800NG AIRCRAFT WILL BE DELIVERED FROM NEXT MONTH TO MARCH 2021