Avolon Aerospace Leasing has issued, through an SPV (Emerald Aviation Finance Limited), a US$636m deal of 210,000 Fixed Rate Asset Backed Notes (details below). The proceeds will be used to acquire a fleet of 20 aircraft from Avolon and the funds will then be used by Avolon to refinance existing debt. The issue was US$546m of 4.65% Class A-1 Fixed Rate Asset Backed Notes and US$90.21m of 6.35% Class B-1 Fixed Rate Asset Backed Notes. Avolon will acquire the junior Class E Note issued by the Issuer. The transaction is expected to close on or about 16 October 2013. Avolon

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