AVOLON RAISES $650 MILLION IN DEBT AND EQUITY

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By TESTCustomwebLP TESTCustomwebLP January 20, 2011 08:06

AVOLON RAISES $650 MILLION IN DEBT AND EQUITY

Irish lessor Avolon has raised $650 million in debt and equity to fund its expansion. The lessor has raised $250 million in equity from new and existing investors, along with $400 million debt raised from: DVB, Nord LB and KfW IPEX-Bank.

This is Avolon’s second funding round since it was formed in May 2010, bringing to $2.05 billion the total it has raised to date.

The new equity has come primarily from Avolon’s existing investors: Cinven, CVC Capital Partners and Oak Hill Capital Partners.

Other investors who participated in this funding include Oak Hill Advisors.
Avolon also announced yesterday that it has agreed terms to acquire 11 new aircraft, under sale and leaseback structures, from four airlines. This involves five Airbus A320s. Two are being leased to Philippine Airlines and three to Indigo Airlines in India.

Six Boeing 737-800s are being leased to Air Berlin in Germany and Virgin Blue in Australia.

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By TESTCustomwebLP TESTCustomwebLP January 20, 2011 08:06
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