Avolon Holdings Limited (Avolon), a global aviation finance company, has announced it has raised US$1.0 billion in a new unsecured dual-tranche bank facility (the Facility) with a syndicate of six banks in the Middle East.
The facility will comprise a conventional tranche and an Islamic tranche, both with a four-year term.
Emirates NBD Capital Limited acted as coordinator, initial mandated lead arranger, and bookrunner on the transaction, alongside Abu Dhabi Commercial Bank PJSC and Warba Bank K.S.C.P. as initial mandated lead arrangers and bookrunners.
Ross O’Connor, Chief Financial Officer, Avolon commented: “This facility further expands our banking relationships in the Middle East consistent with our strategy of diversifying our sources of capital. It demonstrates the strong appetite in the region for high-quality aviation lending opportunities, with Avolon’s positive financial trajectory and successful growth strategy ensuring the transaction was well supported.”
On April 29, Avolon also announced an additional US$1.1 billion senior unsecured facility, split equally between a drawn loan and a revolving credit facility, with a tenor of five years. Seventeen banks participated in the facility, including seven new lenders to Avolon. The mandated lead arrangers for the facility were DBS Bank, CaixaBank, Commonwealth Bank Group, Truist Financial, Cathay United, Allied Irish Banks, and Sumitomo Mitsui Trust Bank.
