Combined TLB-6 priced at SOFR plus 2.00% with a SOFR floor of 0.50%

Dublin | 28 Dec 2023: Avolon Holdings Limited (‘Avolon’), a leading global aviation finance company, announces the consolidation of the US$656 million TLB-5 tranche and US$1.68 billion TLB-6 tranche of its senior secured Term Loan B facility (the ‘Facility’) into one US$2.33 billion TLB-6 tranche.

The combined TLB-6 priced at SOFR plus 2.00% with a SOFR floor of 0.50%, a reduction from the TLB-5 pricing of SOFR plus 2.35% (2.25% margin + 0.10% Credit Spread Adjustment) and the TLB-6 pricing of SOFR plus 2.50%.

As a result of the consolidation, the maturity of the TLB-5 tranche was also effectively extended from December 2027 to June 2028