Avolon raises $750 million with new unsecured credit facility

Avolon has raised $750 million in a new unsecured credit facility with a syndicate of seven banks predominantly in the Middle East and India. The floating rate facility, which has a three-year tenor with options for extensions up to five years, is priced at SOFR +135 basis points. The proceeds will be used for general corporate purposes. “This $750 million facility further diversifies our access to capital and forges new banking relationships in the Middle East and India,” said Avolon CFO Ross O’Connor. “Deepening our sources of liquidity ensures we can continue to capitalise on attractive market dynamics.” JP Morgan