Avolon to price $500 million five-year bullet in Thursday drive-by; price talk in 5½% area

By Paul A. Harris

Portland, Ore., March 1 – Avolon Holdings Ltd. plans to price a $500 million offering of five-year senior bullet notes (Ba3/BB/BB) in a Thursday drive-by trailing a mid-morning conference call with investors, according to market sources.

Initial price talk is in the 5½% area, a trader said.

Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC are the lead bookrunners for the Rule 144A and Regulation S for life offering. Barclays, BNP Paribas, Credit Agricole CIB, SunTrust Robinson Humphrey Inc. and UBS Investment Bank are the joint bookrunners. Fifth Third Bank is the co-manager.

The issuing entity will be Avolon Holdings Funding Ltd.

The Ireland-based provider of aircraft leasing and lease management services plans to use the proceeds for general corporate purposes, which may include future debt repayment.

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