Avolon, a prominent global aviation finance company, has announced the successful raising of US$750 million through a new unsecured credit facility involving a syndicate of seven banks, predominantly from the Middle East and India.
This transaction enhances Avolon’s capital diversity, tapping into new liquidity pools that have a strong interest in high-quality lending opportunities within the aviation sector.
The facility has a three-year tenor with options for extension up to five years. JP Morgan and Emirates NBD acted as joint bookrunners for this transaction.
As a result of this transaction, Avolon has raised over US$3.4 billion in 2024 from a diverse array of funding sources in both public and private markets.
Ross O’Connor, Avolon’s CFO, commented: “This US$750 million facility further diversifies our access to capital and forges new banking relationships in the Middle East and India. Deepening our sources of liquidity ensures we can continue to capitalise on attractive market dynamics, and we appreciate the support of JP Morgan, Emirates NBD and the wider bank syndicate.”
As of March 31, 2024, Avolon’s available liquidity stood at US$6.6 billion, with a net debt-to-equity ratio of 2.2 times. The proceeds from this facility will be used for general corporate purposes.
