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Avolon gets $300m from Singapore investor
27 October 2011
The Irish leasing company has secured an equity investment from Singapore’s sovereign wealth fund.
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Avolon
equity
Government of Singapore Investment Corporation (GIC)
Citi
Andy Cronin
John Higgins
Singapore
Avolon has secured a $300 million equity injection from the Government of Singapore Investment Corporation (GIC). The deal, which is subject to regulatory approval, was signed today.
Citi Global Markets, led by John Grier in New York, was mandated to raise the equity. Airfinance Journal reported on the mandate last month .
The Irish leasing company will use the proceeds to grow its aircraft portfolio, as it looks to reach a fleet of 150 aircraft worth $6 billion by 2014.
Andy Cronin, chief financial officer, Avolon says, the lessor ideally wanted an Asian investor as the region...
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