By Cristal Cody
Tupelo, Miss., Jan. 9 – Avolon Holdings Ltd. subsidiary Avolon Holdings Funding Ltd. (Baa3/BBB-/BBB-) priced a $1.75 billion two-part offering of senior notes on Thursday, according to a market source and a news release.
The company sold $1.1 billion of 2.875% notes due Feb. 15, 2025 and $650 million of 3.25% notes due Feb. 15, 2027.
Initial talk on the 2025 notes was in the 150 basis points over Treasuries spread area, while the 2027 notes were initially talked in the 180 bps area over Treasuries.
Additional pricing details were not immediately available.
Barclays, J.P. Morgan Securities LLC, Natixis Securities Americas LLC, SG Americas Securities, LLC and Wells Fargo Securities LLC were the bookrunners.
The notes are fully and unconditionally guaranteed by the parent company 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
|
| Amount: | $1.75 billion
|
| Description: | Senior notes
|
| Bookrunners: | Barclays, J.P. Morgan Securities LLC, Natixis Securities Americas LLC, SG Americas Securities, LLC and Wells Fargo Securities LLC
|
| Trade date: | Jan. 9
|
| Settlement date: | Jan. 14
|
| Ratings: | Moody’s: Baa3
|
| S&P: BBB-
|
| Fitch: BBB-
|
| Distribution: | Rule 144A and Regulation S
|
| Marketing: | Fixed income investor calls
|
|
|
| Five-year notes
|
| Amount: | $1.1 billion
|
| Maturity: | Feb. 15, 2025
|
| Coupon: | 2.875%
|
| Price guidance: | Treasuries plus 150 bps area
|
|
|
| Seven-year notes
|
| Amount: | $650 million
|
| Maturity: | Feb. 15, 2027
|
| Coupon: | 3.25%
|
| Price guidance: | Treasuries plus 180 bps area
|
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