Avolon issues fixed rate notes

admin
By admin September 27, 2013 09:31

Avolon issues fixed rate notes

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 will act as servicer with respect to the initial aircraft and any additional aircraft acquired by the Issuer.

admin
By admin September 27, 2013 09:31
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