Avolon extends $4.75 billion Term Loan B facility

Avolon has re-priced and extended its senior secured $4.75 billion Term Loan B facility from an original maturity of April 2022 to January 2025 and has been repriced at LIBOR plus 2.00% with a LIBOR floor of 0.75%, subject to an Original Issue Discount (OID) of 99.75. In conjunction with this repricing, Avolon repaid $214 million of the original facility, bringing the outstanding balance to $4.75 billion. Andy Cronin, Avolon Chief Financial Officer, said: “We are very pleased to have successfully extended the maturity of our US$4.75 billion Term Loan B to January 2025, and to have repriced the facility