16 Nov 2020

Avolon Announces Pricing of US$1 Billion Senior Unsecured Notes Offering


US$1 Billion Senior Unsecured Notes due 2026

Dublin | 16 November, 2020: Avolon Holdings Limited (“Avolon”), the international aircraft leasing company, announces the successful pricing of a private offering (the “Offering”) by its wholly owned subsidiary, Avolon Holdings Funding Limited (“AHFL”), for a principal aggregate amount of US$1 billion of 4.25% senior unsecured notes due 2026 (the “Notes”). The Notes will be fully and unconditionally guaranteed by Avolon, and by certain of its subsidiaries.

The Offering is expected to close on or about 23 November, 2020, subject to customary closing conditions. Net proceeds from the Offering will be used to fund the previously announced cash tender offers (the “Tender Offers”) by AHFL and Park Aerospace Holdings Limited (together, the “Issuers”) to purchase certain notes previously issued by the Issuers and to pay fees and expenses in connection therewith. In the event that the Tender Offers are not consummated, or the net proceeds from the Offering are otherwise in excess of the amount needed to fund the Tender Offers and to pay related fees and expenses, the Issuers intend to use the remaining proceeds for general corporate purposes, which may include the future repayment of outstanding indebtedness.

The Notes will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), or any state securities law and may not be offered or sold in the United States absent registration or an applicable exemption from registration under the Securities Act and applicable state securities laws. The Notes will be offered in the United States only to qualified institutional buyers under Rule 144A of the Securities Act and outside the United States under Regulation S of the Securities Act.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there by any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, qualification or an exemption under the securities laws of any such jurisdiction.

ENDS

For Further Information Please Contact

David Breen / Joe Brennan
Avolon Investor Relations
[email protected]
T: +353 1 231 5800

Douglas Keatinge
Avolon Head of Communications
[email protected]
T: +353 86 037 4163

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