AVOLON RAISES $465M TO CONTINUE FINANCING DEBT

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By TESTCustomwebLP TESTCustomwebLP January 26, 2011 15:34

AVOLON RAISES $465M TO CONTINUE FINANCING DEBT

Aircraft lessor Avolon announced yesterday it raised $465 million in its third capital raising, this initial financing included a $400 million warehouse facility, which was the first facility of this type to be successfully executed in three years, and brings its total funds raised since May 2010 to more than $2.5 billion for debt finance. Proceeds will be used to support the continued growth of the fleet, which includes more than 60 aircraft on order valued at more than $2.8 billion.

“This debt raising is an important step in broadening our lender base, introducing three new, US-based lenders to Avolon,” CFO Andy Cronin said.

Wells Fargo Securities led and structured the transactions, which consist of a fully underwritten long-term debt facility from a consortium that also includes Citi and Morgan Stanley.

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By TESTCustomwebLP TESTCustomwebLP January 26, 2011 15:34
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