Avolon announces successful closing of US$500m financing
Adds two new banks to lending group
Avolon (“Avolon” or the "Group"), the international aircraft leasing group, announces the closing of a new US$500 million secured debt facility.
- New, secured US$500 million debt facility to finance Avolon’s growing fleet of aircraft.
- US$500 million, 8 year facility maturing in December 2022.
- Facility to be used to finance new aircraft deliveries in 2014.
- Joint Lead Arrangers on financing Credit Agricole CIB and Deutsche Bank AG.
- National Australia Bank Limited acted as Arranger and HSBC Bank PLC, Dublin Branch a Lender, both new lenders to Avolon.
Andy Cronin, Chief Financial Officer, Avolon, commented:
“The successful closing of this US$500 million facility demonstrates our ability to secure flexible, cost efficient and long-‐term capital to finance our continued growth. The US$800 million of commitments we have added since January follows additional debt financing of US$1.6 billion raised in 2013 including our inaugural US$636 million Emerald Aviation Finance ABS.”
“Credit Agricole CIB and Deutsche Bank AG have been supporters of Avolon since its launch. We are also pleased to welcome National Australia Bank and HSBC as new lenders in Avolon’s strong and geographically diversified lending group.”
Dómhnal Slattery, Chief Executive Officer, Avolon, concluded:
“Avolon has balance sheet strength, significant capital resources available and an attractive debt maturity profile. This position of strength is allowing us to continue capitalising on the opportunities within our sector to deliver sustained growth and superior returns for our shareholders in 2014 and beyond.”