Avolon has extended and upsized its unsecured revolving credit facility, supported by a syndicate of 25 banks.
The facility’s maturity date has been extended by two and a half years from April 2026 to October 2028 and has been upsized by $bn to $5.8bn over the course of 2024.
Ross O’Connor, Avolon CFO, commented: “The strong support from our banking partners for this transaction reflects the strength of Avolon’s franchise and positive financial performance trajectory.”
He added: “The facility maintains Avolon’s high levels of liquidity, providing us with further flexibility and a cost-efficient component of our funding strategy. Increasing the proportion of unsecured debt in our capital structure will provide further momentum towards achieving our goal of higher credit ratings.”
This transaction brings Avolon's total capital raised over the past year to $12bn, with 75% sourced from unsecured funding.