Dublin-based aircraft leasing giant Avolon has announced pricing of $1.1 billion for a private placement that is due to close at the end of the month. The lessor’s subsidiary, Avolon Holdings Funding Limited, is issuing $800 million of 5.25 per cent notes due in 2024. Another unit, Park Aerospace Holdings, is issuing $300 million of 5.25 per cent notes maturing in 2022. The unsecured notes are guaranteed by Avolon with the company saying it may use some of the proceeds to pay down debt. Avolon earlier this week announced it grew 30 per cent to $717 million (€633m) last year, with the company indicating it may refinance up to $3 billion of its secured debt in 2019 as it seeks an investment-grade rating.

Source: The Irish Times February 15, 2019 06:56 UTC