09 Jan 2020
Avolon Annouces Pricing Of US$1.75 Billion Senior Unsecured Notes Offering
US$1.1 Billion Senior Unsecured Notes due 2025 and US$650 million Senior Unsecured Notes due 2027
Dublin | 9 January, 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, for a principal aggregate amount of US$1.75 billion.
The Offering comprises US$1.1 billion of 2.875% senior unsecured notes due 2025 (the “2025 Notes”) and US$650 million of 3.25% senior unsecured notes due 2027 (the “2027 Notes” and, together with the 2025 Notes, the “Notes”). The Notes will be fully and unconditionally guaranteed by Avolon, and by certain of its subsidiaries.
The Offerings are expected to close on or about 14 January, 2020, subject to customary closing conditions. Net proceeds from the Offering will be used for general corporate purposes, which may include the future repayment of outstanding secured 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.
Note Regarding Forward-Looking Statements
This document includes forward-looking statements, beliefs or opinions, including statements with respect to Avolon’s business, financial condition, results of operations and plans. These forward-looking statements involve known and unknown risks and uncertainties, many of which are beyond our control and all of which are based on our management’s current beliefs and expectations about future events. Forward-looking statements are sometimes identified by the use of forward-looking terminology such as “believe,” “expects,” “may,” “will,” “could,” “should,” “shall,” “risk,” “intends,” “estimates,” “aims,” “plans,” “predicts,” “continues,” “assumes,” “positioned” or “anticipates” or the negative thereof, other variations thereon or comparable terminology or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward-looking statements include all matters that are not historical facts. Forward-looking statements may and often do differ materially from actual results. No assurance can be given that such future results will be achieved, that any private placement of senior unsecured notes will occur following the investor calls or, regardless of whether a private placement of senior unsecured notes is consummated, that any ratings agencies will upgrade Avolon to investment grade. Avolon does not intend, and undertakes no duty, to update any information contained herein to reflect future events or circumstances, except as required by applicable law.
For Further Information Please Contact
Head of Communications and Branding
+353 1 556 4429
Ross O' Connor
Head of Investor Relations
+353 1 231 5818
+353 1 765 0886