Avolon launches jumbo bond offering

Avolon has priced a private offering by its wholly owned subsidiary, Avolon Holdings Funding (AHFL), for $1 billion 4.25% senior unsecured notes due 2026, which are fully and unconditionally guaranteed by Avolon. Net proceeds from the offering, which will close on or about 23 November, 2020, will be used to fund the previously announced cash tender offers by AHFL and Park Aerospace to purchase certain notes previously issued by the Issuers and to pay fees and expenses. If this doesn’t go ahead, or if there is any surplus, the proceeds will be used for general corporate purposes, which may include