Dublin based airline leasing company Avolon has extended and upsized its unsecured revolving credit facility, increasing it by $1bn to a total of $5.8bn, with maturity extended to October 2028.
This transaction brings Avolon’s total capital raised in 2024 to US$12bn, with 75pc of the funds from unsecured sources.
CFO Ross O’Connor highlighted the strong support from banking partners, reflecting Avolon’s financial strength and positive performance trajectory.
The increased proportion of unsecured debt will enhance Avolon’s flexibility and contribute to achieving higher credit ratings.Ross O’Connor, Avolon CFO, shartd: “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.”
