06 Feb 2020

Avolon Successfully Reduces Price of US$850 Million of Senior Secured Term Loan B Facility

Avolon will also repay US$300 million, reducing the Facility’s balance to US$2.28 billion

Dublin | 6 February, 2020: Avolon Holdings Limited (“Avolon”), the international aircraft leasing company, announces the successful re-pricing of US$850 million of its senior secured US$2.58 billion Term Loan B facility (the “Facility”).

Avolon has repriced the US$850 million tranche at LIBOR plus 1.50% and is subject to an Original Issue Discount (OID) of 99.75. The maturity of this US$850 million tranche has been extended to 2027. In conjunction with this repricing, Avolon will also repay US$300 million of the original Facility, reducing the outstanding balance to US$2.28 billion.

The outstanding balance of the Facility has a maturity date of January 2025 and was repriced at LIBOR plus 1.75% with a LIBOR floor of 0.75% in Q2 2019.

Andy Cronin, Avolon Chief Financial Officer, commented:This successful repricing is another step in reducing Avolon’s cost of funds. The repricing at LIBOR plus 1.50% represents a new sector low for a Term Loan B Facility. We have now reduced the overall size of the facility by over US$3 billion, supporting our objective of increasing unencumbered assets within our capital structure and securing this interest margin on the loan – one of the lowest in the Term Loan B market – highlights the level of investor confidence in our business.

Avolon will issue our 2019 Full Year Results next Wednesday, 12 February.


For Further Information Please Contact


Emmet Moloney
Head of Communications and Branding
+353 1 556 4429


Ross O' Connor
Head of Investor Relations
+353 1 231 5818

FTI Consulting

Jonathan Neilan
+353 1 765 0886

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2019 Full Year Results