Avolon upsized its bond buyback, increasing its offer to repurchase senior notes to $1.2bn, up from $800 million, on June 3, 2025, citing strong investor participation. As of the early tender deadline on June 2, around $1.78bn of the notes were validly tendered.
The repurchase notes include, in order of acceptance priority, $635 million of 4.250% senior notes due 2026, that had a principal amount outstanding of $1bn; $298.1 million of 4.375% senior notes due 2026 that had a principal amount outstanding of $745.2 million; $459.8 million of 2.125% senior notes due 2026, with a principal amount outstanding of $750 million; and $388.9 million of 5.500% senior notes due 2026, with a principal amount outstanding of $650 million.
The offer will expire on June 17, 2025.
Deutsche Bank Securities and Lloyds Securities are serving as the lead dealer managers. Huntington Securities, ING Financial Markets, KeyBanc Capital Markets are serving as co-dealer managers.