ORIX Aviation Systems (ORIX Aviation) has closed a Japanese Operating Lease with a Call Option (JOLCO) transaction with Avolon, which was supported by MUFG acting as lender.
James Meyler, ORIX Aviation’s chief executive, remarked: “We are delighted to confirm the closing of our first Lessor JOLCO to Avolon. This transaction is a testament to ORIX Aviation’s strong reputation within the JOL/JOLCO market and further demonstrates our close working relationship with Avolon.”
Andy Cronin, Avolon chief executive expressed how excited the firm was to partner with ORIX on its first JOLCO operating lease financing. “This transaction demonstrates our commitment to access capital from a wide pool of funding sources and allowed us to leverage ORIX Aviation’s deep investor network within Japan to create a beneficial outcome for both parties,” he said.
Olivier Trauchessec, head of global aviation at MUFG, which acted as mandated lead arranger and lender on the deal, added: “MUFG is extremely pleased to have partnered with ORIX Aviation and Avolon … on this milestone transaction between two successful lessors.”