Avolon today announces it has won the Finance Dublin ‘Deal of the Year’ Award 2012 for its US$300 million equity raise from leading sovereign wealth fund Government of Singapore Investment Corporation [GIC].

Avolon today announces it has won the Finance Dublin ‘Deal of the Year’ Award 2012 for its US$300 million equity raise from leading sovereign wealth fund Government of Singapore Investment Corporation [GIC]. This follows last year’s win of the Finance Dublin ‘IFSC Deal of the Year’ win for its launch capital raise in May 2010.

Commenting on the equity raise, Domhnal Slattery, CEO said:
‘Securing Avolon’s third round equity investment from GIC, one of the leading investors in the world with a strong track record of successful investment, marked a strategic milestone in Avolon’s development. It endorses our business model, growth prospects, the acumen and experience of our management team and, finally, the ability of our business to deliver superior risk-adjusted returns.’

‘From a strategic perspective, we wanted to find a top-tier ‘local’ investor at the heart of our most rapidly growing market, Asia-Pacific. Winning an investment from an investor of GIC’s standing substantially raises our profile and enhances our credibility in this market.’

Andy Cronin, CFO, added:
‘The equity raise was the result of a private placement process conducted over the summer of 2011 and was particularly significant in that despite the market volatility investors were attracted to the stable profitability of the business combined with the long term fundamentals of the sector. ‘

‘Together with our financial advisors, Citi, we conducted a competitive process globally to raise up to US$300m of equity capital and were greatly encouraged by the level of interest from a broad range of potential investors. The process culminated in October 2011 when we welcomed GIC as a significant shareholder, taking all of the available equity allocation and adding geographic diversity to our ownership structure.’