Avolon completes new $675 million 8 year debt facility

Avolon has completed a new $675 million eight-year secured debt facility. The new facility will finance up to 21 aircraft at a margin of 1.65%. The facility, which was upsized from original RFP target of $500 million, is financed by six banks based in Europe and Asia-Pacific. Mandated lead arrangers are: Bank of Ireland Corporate Banking, The Bank of Tokyo-Mitsubishi UFJ, Ltd., BNP Paribas, Commonwealth Bank of Australia (London Branch), HSBC Bank plc and Natixis SA. Andy Cronin, Avolon CFO, says: “The closing of our single largest debt transaction, at a margin of 1.65%, is a milestone for the business