Avolon has repriced and extended its $2.33 billion senior term loan B-6 facility.
The facility priced at SOFR plus 1.75% - down from 2% - with a SOFR floor of 0.50%. The facility also includes an original issue discount (OID) of 99.875.
“We are very pleased to have successfully extended the maturity of our US$2.3 billion Term Loan B-6 to June 2030, and to have repriced the facility downwards for the second time in 12 months, with a cumulative reduction of 75bps from the original margin,” said Ross O’Connor, chief financial officer of Avolon.
He added: “The transaction was well supported by our broad lender base and is consistent with our strategy to actively manage our balance sheet.”
The facility’s maturity was also extended by two years, June 22, 2030.