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Business Wire
9 hours ago
- Business
- Business Wire
Avolon Announces Pricing Terms of Previously Announced Debt Tender Offers
DUBLIN--(BUSINESS WIRE)--Avolon Holdings Limited ('Avolon' or the 'Company'), a leading global aviation finance company, announced today the pricing terms of the previously announced offers by Avolon Holdings Funding Limited, a Cayman Islands exempted company and a direct wholly-owned subsidiary of Avolon ('Avolon Holdings Funding' or the 'Offeror' and, together with the Company and its consolidated subsidiaries, 'we,' 'our' or 'us'), to purchase for cash each series (each, a 'Series') of the notes listed in the table below (the 'Notes') (i) in accordance with, and in the order of, the corresponding Acceptance Priority Levels and (ii) subject to the Maximum Tender Cap (as defined below) and pro rata allocation, upon the terms and subject to the conditions set forth in the Offer to Purchase (as defined below). The offers to purchase with respect to each Series of Notes are referred to herein as the 'Offers' and each, an 'Offer.' Each Offer is made upon the terms and subject to the conditions set forth in the offer to purchase, dated May 19, 2025 (as amended or supplemented from time to time, the 'Offer to Purchase'). Capitalized terms used but not defined in this press release have the meanings given to them in the Offer to Purchase. Because the aggregate purchase price (excluding Accrued Interest (as defined below)) of the Notes validly tendered and not validly withdrawn as of 5:00 p.m., New York City time, on June 2, 2025 (the 'Early Tender Deadline') exceeds the Maximum Tender Cap, we will accept for purchase such Notes in accordance with the Acceptance Priority Levels, subject to the proration factors, each as set forth in the table below and as further described in the Offer to Purchase, so as not to exceed the Maximum Tender Cap. The applicable Total Consideration for each $1,000 in principal amount of Notes validly tendered and not validly withdrawn before the Early Tender Deadline and accepted for purchase pursuant to the Offers was determined by reference to the applicable fixed spread for each Series of Notes over the yield based on the bid price of the applicable reference security, in each case as set forth in the table below. The Tender Offer Yields (as determined pursuant to the Offer to Purchase) listed in the table below were determined at 9:00 A.M., New York City time, today, June 3, 2025, by the Dealer Managers (as defined below). The Total Consideration for each Series includes an early tender premium (the 'Early Tender Premium') of $30.00 per $1,000 principal amount of Notes accepted for purchase and accounts for the maturity date or par call date, as applicable. The following table sets forth the pricing terms for the Offers: ____________________ * Admitted to trading on the Irish Stock Exchange plc, trading as Euronext Dublin ('Euronext Dublin'). (1) Per $1,000 principal amount of Notes validly tendered and not validly withdrawn and accepted for purchase in the applicable Offer at or prior to the Early Tender Deadline. The Total Consideration was determined taking into account the maturity date or par call date, as applicable, for each Series. Excludes Accrued Interest. Includes the Early Tender Premium. Expand We expect settlement for Notes validly tendered and not validly withdrawn at or prior to the Early Tender Deadline and accepted for purchase to occur on June 5, 2025. All payments for Notes validly tendered and not validly withdrawn at or prior to the Early Tender Deadline and accepted for purchase will also include accrued and unpaid interest from the last interest payment date up to, but not including, the Early Settlement Date (the 'Accrued Interest'). All Notes that have been accepted for purchase will be retired and canceled and will no longer remain outstanding obligations of the Company, the Offeror or any of the Company's other subsidiaries. Such Notes will also be delisted from Euronext Dublin. The Offers will expire at 5:00 P.M., New York City time, on June 17, 2025 (as the same may be extended with respect to any Offer, the 'Expiration Date'). As a result of reaching the previously announced amount of $1,200,000,000 (as so amended, the 'Maximum Tender Cap') by the Early Tender Deadline, no Notes tendered after the Early Tender Deadline will be accepted for purchase, regardless of their Acceptance Priority Level. Notes not accepted for purchase will be returned promptly to the tendering holders of the Notes ('Holders') (or, in the case of Notes tendered by book-entry transfer, such Notes will be promptly credited to the account maintained at The Depository Trust Company from which such Notes were delivered) and otherwise returned in accordance with the Offer to Purchase. We expressly reserve the right, in our sole discretion, to amend, extend or, upon failure of any condition described in the Offer to Purchase to be satisfied or waived, to terminate any of the Offers, including the right to amend or eliminate the Maximum Tender Cap, at any time at or prior to the Expiration Date. Deutsche Bank Securities Inc. and Lloyds Securities Inc. are serving as the Lead Dealer Managers, and Huntington Securities, Inc., ING Financial Markets LLC, KeyBanc Capital Markets Inc. and NatWest Markets Securities Inc. are serving as Co-Dealer Managers, in connection with the Offers (collectively, the 'Dealer Managers'). Questions regarding terms and conditions of the Offers should be directed to Deutsche Bank Securities, Inc. by calling toll free at 866-627-0391 or to Lloyds Securities Inc. by calling collect at +1 212-827-3145. Global Bondholder Services Corporation has been appointed as information agent (the 'Information Agent') and tender agent (the 'Tender Agent') in connection with the Offers. Questions or requests for assistance in connection with the Offers or the delivery of tender instructions, or for additional copies of the Offer to Purchase, may be directed to Global Bondholder Services Corporation by calling collect at 212-430-3774 (for banks and brokers) or toll free at 855-654-2014 (for all others) or via e-mail at contact@ You may also contact your broker, dealer, commercial bank, trust company or other nominee for assistance concerning the Offers. The Offer to Purchase can also be accessed at the following website: None of Avolon Holdings Funding, the Company, the Dealer Managers, Global Bondholder Services Corporation, the trustee under the indenture governing the Notes or any of their respective affiliates is making any recommendation as to whether Holders should tender any Notes in response to the Offers. Holders must make their own decision as to whether to tender any of their Notes and, if so, the principal amounts of Notes to tender. This press release is for informational purposes only and is not an offer to purchase or sell or a solicitation of an offer to purchase or sell with respect to any securities. Neither this press release nor the Offer to Purchase, or the electronic transmission thereof, constitutes an offer to purchase or sell or a solicitation of an offer to purchase or sell with respect to any securities, as applicable, in any jurisdiction in which, or to or from any person to or from whom, it is unlawful to make such offer or solicitation under applicable securities laws or otherwise. The distribution of this press release in certain jurisdictions may be restricted by law. In those jurisdictions where the securities, blue sky or other laws require the Offers to be made by a licensed broker or dealer and the Dealer Managers or any of their respective affiliates is such a licensed broker or dealer in any such jurisdiction, the Offers shall be deemed to be made by the Dealer Managers or such affiliate, as the case may be, on behalf of the Company in such jurisdiction. THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014. This announcement is released by the Offeror and may contain inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 ('MAR'), encompassing information relating to the Notes. For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/155, this announcement is made by the directors of the Offeror. About Avolon Avolon is a leading global aviation finance company connecting capital with customers to drive the transformation of aviation and the economic and social benefits of global travel. We pride ourselves on our deep customer relationships, our collaborative team approach, and our fast execution. We invest with a long-term perspective, diversifying risk and managing capital efficiently to maintain our strong balance sheet. Working with 141 airlines in 60 countries, Avolon has an owned, managed, and committed fleet of 1,096 aircraft, as of 31 March 2025. 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. 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.
West Australian
19 hours ago
- Health
- West Australian
Early Years bus service to provide vital school and healthcare access for Great Southern families
A brand-new Early Years bus service enables young children in the Great Southern access to essential early childhood services by removing persistent transport barriers. Taking its first trip on May 6, the service provides transport to families with children up to 4-years-old to early education services such as KindiLink, health services, and cultural events across Katanning, Kojonup, Gnowangerup, and Broomehill-Tambellup. The initiative developed from the Central Great Southern Community Plan, co-designed with local families, educators and service providers, who identified transport as a major hurdle when accessing early childhood education and health services. Funded through the Early Years Partnership, the place-based approach guarantees tailored solutions to the individual needs of families in the region to improve school readiness, health outcomes, and family participation in the community, to be evaluated in time. Early Childhood Minister Sabine Winton said she is eager to support young families and continue to deliver Early Years projects. 'The first five years of a child's life are so important. It is during this time that they build the foundation for lifelong learning, health and wellbeing,' Ms Winton said. 'The Early Years Partnership is a unique collaboration between the State Government, Minderoo Foundation, and the Telethon Kids Research Institute Australia that promotes new ways of working to achieve positive outcomes for children, families and the wider community. 'We know that attending early learning activities and child health appointments is vital in supporting children's wellbeing and school readiness. 'I'm pleased that the Early Years bus service is helping families in Katanning and surrounding communities to access early childhood services.' Families can enrol in the service via a barcode system with the BAC Connected Beginnings team.
Scoop
a day ago
- Sport
- Scoop
New Zealand Has A New Scrabble Champion
Press Release – New Zealand Association of Scrabble Players Wellingtonian Dylan Early has become New Zealand's 45th Scrabble Champion. The premier event in NZ's Scrabble calendar drew a large field of experienced players and grand masters to Hamilton this long weekend. Early won 17 of his 24 games just ahead of Lewis Hawkins of Christchurch on 15 games and 12-times winner Howard Warner of Wellington on 14. This year for the first time, the tournament was livestreamed with commentary from expert international Scrabble players. Thousands of viewers tuned in from all over the world to share the excitement, including expert players and non-Scrabblers. The 2025 national title tops off a very impressive year for Early. He also won the 2025 NZ Masters title and was a member of the winning NZ team which took out the Trans-Tasman Championship for the first time in 14 years. Originally from South Africa, Early has a very impressive international Scrabble record. He has won the South African national championships six times and has competed in six world championships in all parts of the globe. Reflecting on his win, he says, 'This was a very exciting tournament with a tough field and gruelling schedule. The lead alternated between several top players throughout the weekend which made it very exciting for players and spectators alike. I suffered two early losses on the final day so thought my chances were over, but then my luck turned and I managed to win the next four in a row. Each game was hard-fought and I'm elated with the result and my second national title.' The National Championships attracted 68 players from all parts of New Zealand and of all ages including 12-year-old Maheu T-Pole and15-year-old Cooper Ashley from Auckland. Mount Albert Scrabble Club took out the team prize. Winners by grade are as follows: GRADE A Dylan Early (Wellington) GRADE B Murray Rogers (Golden Bay) GRADE C Lynn Wood (Wellington) GRADE D Carolyn Kyle (Dunedin) GRADE E Tei Ngatai (Australia) GRADE F Cooper Ashley (Auckland) The Georgie Trophy for the player at the tournament with the biggest ratings gain went to Glenys Hansen from the Martinborough Scrabble Club. For the full results of the National Championship or to find out more about New Zealand Scrabble and where you can join a club go to: https: To watch the livestream use the following links:
Scoop
a day ago
- Sport
- Scoop
New Zealand Has A New Scrabble Champion
Wellingtonian Dylan Early has become New Zealand's 45th Scrabble Champion. The premier event in NZ's Scrabble calendar drew a large field of experienced players and grand masters to Hamilton this long weekend. Early won 17 of his 24 games just ahead of Lewis Hawkins of Christchurch on 15 games and 12-times winner Howard Warner of Wellington on 14. This year for the first time, the tournament was livestreamed with commentary from expert international Scrabble players. Thousands of viewers tuned in from all over the world to share the excitement, including expert players and non-Scrabblers. The 2025 national title tops off a very impressive year for Early. He also won the 2025 NZ Masters title and was a member of the winning NZ team which took out the Trans-Tasman Championship for the first time in 14 years. Originally from South Africa, Early has a very impressive international Scrabble record. He has won the South African national championships six times and has competed in six world championships in all parts of the globe. Reflecting on his win, he says, 'This was a very exciting tournament with a tough field and gruelling schedule. The lead alternated between several top players throughout the weekend which made it very exciting for players and spectators alike. I suffered two early losses on the final day so thought my chances were over, but then my luck turned and I managed to win the next four in a row. Each game was hard-fought and I'm elated with the result and my second national title.' The National Championships attracted 68 players from all parts of New Zealand and of all ages including 12-year-old Maheu T-Pole and15-year-old Cooper Ashley from Auckland. Mount Albert Scrabble Club took out the team prize. Winners by grade are as follows: GRADE A Dylan Early (Wellington) GRADE B Murray Rogers (Golden Bay) GRADE C Lynn Wood (Wellington) GRADE D Carolyn Kyle (Dunedin) GRADE E Tei Ngatai (Australia) GRADE F Cooper Ashley (Auckland) The Georgie Trophy for the player at the tournament with the biggest ratings gain went to Glenys Hansen from the Martinborough Scrabble Club. For the full results of the National Championship or to find out more about New Zealand Scrabble and where you can join a club go to: https: To watch the livestream use the following links:
Business Recorder
3 days ago
- Business
- Business Recorder
PHCIP implementation rate termed moderately satisfactory
ISLAMABAD: The World Bank (WB) has rated the implementation progress of the Punjab Human Capital Investment Project (PHCIP), worth around revised $146.31 million, as moderately unsatisfactory. The project was approved in March 2020 with the development objective of to increase the utilisation of quality health services, and economic and social inclusion programs among poor and vulnerable households in select districts in Punjab. The closing date of the project was 30 June 2025, which is revised to 30 June 2026. The original cost of the project was $200 million, which is revised to $146.31 million. Official documents revealed that $122.19 million of the revised $146.31 million were disbursed while $32.74 million remain un-disbursed so far. Govt approaches WB for $200m PHCIP restructuring The project remains on-track to achieve its development objectives, although there have been some delays in the pace of implementation. A total of 1,084,186 pregnant and lactating women have been registered under the Aaghosh program across the project districts. Under the economic inclusion component, economic inclusion assets have been transferred to 64,592 families. The sub-component of education is providing Early Childhood Care and Education (ECCE) intervention (books, furniture, learning kits) to 9,397 schools, exceeding its revised target of 8900 schools. A fully functional Grievance Redress Mechanism is also in place. Copyright Business Recorder, 2025
