Avolon upsizes and extends Term Loan B facility

Avolon has upsized and extended the maturity of the TLB-3 tranche of its senior secured US$2.92bn Term Loan B facility. The TLB-3 tranche has been extended from January 2025 to June 2028 through a new TLB-6 tranche and upsized by US$250 million, bringing the total size to $1.68bn. The TLB-6 priced at SOFR plus 2.5% with a SOFR floor of 0.5%, subject to an original issue discount (OID) of 99.0. Ross O’Connor, chief financial officer of Avolon, commented: “The upsizing of the transaction reflects strong demand from both existing and new investors, reflective of the quality of our portfolio and