Avolon Holdings Limited (“Avolon”), the international aircraft leasing
company, announces the re-pricing and partial repayment of its US$500
million Term Loan B-1 (“TLB-1”) facility. 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 US$130 million of the original TLB-1 facility.
The TLB-1 repricing follows the recent successful re-pricing of Avolon’s
US$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%.
This press release includes forward-looking statements. These statements
relate to the closing of the Offering, the use of proceeds therefrom,
and other statements that are not historical fact. Although Avolon
believes the assumptions upon which these forward-looking statements are
based are reasonable, any of these assumptions could prove to be
inaccurate and the forward-looking statements based on these assumptions
could be incorrect. Actual results and trends in the future may differ
materially from those suggested or implied by the forward-looking
statements depending on a variety of factors. Some of these factors
include market conditions and closing conditions for the Offering.
Avolon undertakes no obligation to update any information contained in
this press release.
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.
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