Avolon re-prices USD 500m term loan B-1 facility

Avolon Holdings Limited (“Avolon”), the international aircraft leasing company, has announced the re-pricing and partial repayment of its USUSD 500 million Term Loan B-1 (“TLB-1”) facility, the company said.

The TLB-1 facility, with a September 2020 maturity, was originally priced in March 2017 at LIBOR plus 2.25% with a LIBOR floor of 0%. The facility has now been repriced at LIBOR plus 1.75% with a LIBOR floor of 0%. The loans under the repriced TLB-1 facility were issued at par and not subject to an Original Issue Discount (OID). In conjunction with this repricing Avolon repaid USUSD 130 million of the original TLB-1 facility.

The TLB-1 repricing follows the recent successful re-pricing of Avolon´s USUSD 5.0 billion Term Loan B-2 (“TLB-2”) facility with an April 2022 maturity to LIBOR plus 2.25% with a LIBOR floor of 0.75%.

Headquartered in Ireland, with offices in the United States, Dubai, Singapore, Hong Kong and Shanghai, Avolon provides aircraft leasing and lease management services. Avolon is a wholly owned, indirect subsidiary of Bohai Capital Holding Co., Ltd., a Chinese public company listed on the Shenzhen Stock Exchange (SLE: 000415). Avolon is the world´s third largest aircraft leasing business with a pro-forma owned, managed and committed fleet, as of 30 September, 2017 of 915 aircraft.