AviLease closes $1.1bn unsecured financing facility

AviLease, the rapidly expanding global aircraft lessor fully owned by PIF, has successfully raised US$1.1bn in its first financing, with an internationally funded, and highly oversubscribed offer. The unsecured term facility has a duration of five years and will be used for general corporate purposes, including the acquisition of more aircraft to add to the company’s leasing portfolio. The financing is structured in two parts, a conventional funding tranche of US$850 million and a Shariah-compliant tranche, shortly to be signed, of US$250 million. AviLease reports that its request for financing generated huge interest across the local, regional and international markets,