By Cristal Cody
Tupelo, Miss., Sept. 24 – Avolon Holdings Funding Ltd. (Baa3/BBB-/BBB-) priced $650 million of 5.5% guaranteed senior notes due Jan. 15, 2026 on Thursday at a spread of Treasuries plus 525 basis points, according to a market source and news release.
Initial price talk was in the 550 bps over Treasuries area.
BNP Paribas Securities Corp., Credit Agricole CIB, J.P. Morgan Securities LLC, Mizuho Securities USA LLC and MUFG were the bookrunners.
The notes are fully and unconditionally guaranteed by parent company Avolon Holdings Ltd. and certain subsidiaries.
Avolon held fixed income investor calls on Wednesday for the Rule 144A and Regulation S offering.
Proceeds will be used for general corporate purposes.
The aircraft leasing company is based in Dublin.
| Issuer: | Avolon Holdings Funding Ltd.
|
| Guarantors: | Avolon Holdings Ltd. and certain subsidiaries
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| Amount: | $650 million
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| Maturity: | Jan. 15, 2026
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| Description: | Senior notes
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| Bookrunners: | BNP Paribas Securities Corp., Credit Agricole CIB, J.P. Morgan Securities LLC, Mizuho Securities USA LLC and MUFG
|
| Coupon: | 5.5%
|
| Spread: | Treasuries plus 525 bps
|
| Trade date: | Sept. 24
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| Settlement date: | Sept. 29
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| Ratings: | Moody’s: Baa3
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| S&P: BBB-
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| Fitch: BBB-
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| Distribution: | Rule 144A and Regulation S
|
| Marketing: | Fixed income investor calls
|
| Price guidance: | Treasuries plus 550 bps area
|
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