Avolon, a leading global aviation finance company, announced the extension and upsizing of its unsecured revolving credit facility, supported by a syndicate of 25 banks. And the facility’s maturity date has been extended by two and a half years from April 2026 to October 2028, and upsized by $1 billion to $5.8 billion over the course of this year.
Avolon invests with a long-term perspective, diversifying risk and managing capital efficiently to maintain a strong balance sheet. Working with 141 airlines in 62 countries, Avolon has an owned, managed, and committed fleet of 1,137 aircraft as of September 30 on a pro forma basis, including the proposed acquisition of Castlelake Aviation Limited.
This deal brings Avolon’s total capital raised year to date to $12 billion, of which 75% was raised from unsecured sources.
KEY QUOTE:
“The strong support from our banking partners for this transaction reflects the strength of Avolon’s franchise and positive financial performance trajectory. The facility maintains Avolon’s high levels of liquidity, providing us with further flexibility and a cost-efficient component of our funding strategy. Increasing the proportion of unsecured debt in our capital structure will provide further momentum towards achieving our goal of higher credit ratings.”
– Ross O’Connor, Avolon CFO
