Latest news with #RossO'Connor
Irish Times
02-05-2025
- Business
- Irish Times
Avolon raises $1bn bank facility
Aviation finance company Avolon has raised $1 billion in a new unsecured dual tranche bank facility with six banks in the Middle East as it diversifies its capital sources. The move follows the announcement of a new $1.1 billion senior unsecured facility late last month, bringing the total of new unsecured facilities raised in the second quarter to $2.1 billion. The new facility, which has a conventional and an Islamic tranche, includes five new banks and was coordinated by Emirates NBD Capital, alongside Abu Dhabi Commercial Bank and Warba Bank as initial mandated lead arrangers and bookrunners. Avolon previously raised a $750 million credit facility in June last year that had significant participation from Middle East banks. READ MORE 'This facility further expands our banking relationships in the Middle East consistent with our strategy of diversifying our sources of capital,' said Ross O'Connor, chief financial officer of Avolon. 'It demonstrates the strong appetite in the region for high quality aviation lending opportunities, with Avolon's positive financial trajectory and successful growth strategy ensuring the transaction was well supported.'
Business Wire
29-04-2025
- Business
- Business Wire
Avolon Agrees New US$1.1 Billion Unsecured Term Loan Facility
DUBLIN--(BUSINESS WIRE)--Avolon Holdings Limited ('Avolon'), a leading global aviation finance company, announces the completion of a new US$1.1 billion senior unsecured facility (the 'Facility'). The facility is split equally between a drawn loan and a revolving credit facility and has a tenor of five years. 17 banks participated in the facility, including seven new lenders to Avolon. The mandated lead arrangers on the facility were: DBS Bank, CaixaBank, Commonwealth Bank Group, Truist Financial, Cathay United, Allied Irish Banks, and Sumitomo Mitsui Trust Bank. Ross O'Connor, Avolon CFO commented: 'Avolon continues to source capital from a diverse range of public and private channels, and this facility strengthens our balance sheet and enhances our availability liquidity. We were pleased to attract a broad range of participants, including several new banking relationships in Asia, reflecting the depth of demand for our credit among global banks.' 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, including with respect to the closing of the Offering. 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.
