Avolon, a leading global aviation finance company, announces the extension and upsizing of its unsecured revolving credit facility, supported by a syndicate of 25 banks. The facility's maturity date has been extended by two and a half years from April 2026 to October 2028, and upsized by US$1 billion to US$5.8 billion over the course of 2024.
This transaction brings to US$12 billion the total capital raised by Avolon year to date, of which 75% was raised from unsecured sources.
Ross O'Connor, Avolon CFO, commented: "The strong support from our banking partners for this transaction reflects the strength of Avolon's franchise and positive financial performance trajectory. The facility maintains Avolon's high levels of liquidity, providing us with further flexibility and a cost-efficient component of our funding strategy. Increasing the proportion of unsecured debt in our capital structure will provide further momentum towards achieving our goal of higher credit ratings."
About Avolon
Avolon is a leading global aviation finance company connecting capital with customers to drive the transformation of aviation and the economic and social benefits of global travel. We pride ourselves on our deep customer relationships, our collaborative team approach, and our fast execution. We invest with a long-term perspective, diversifying risk and managing capital efficiently to maintain our strong balance sheet. Working with 141 airlines in 62 countries, Avolon has an owned, managed, and committed fleet of 1,137 aircraft as of 30 September 2024 on a pro forma basis including the proposed acquisition of Castlelake Aviation Limited. www.avolon.aero
View source version on businesswire.com: https://www.businesswire.com/news/home/20241201152486/en/
Contacts:
David Breen Joe Brennan
Avolon Investor Relations
ir@avolon.aero
T: +353 1 231 5800
Douglas Keatinge
Avolon Head of Communications
dkeatinge@avolon.aero
T: +353 86 037 4163
