Avolon has priced a $1.5 billion private note offering to help pay down debt and fund corporate expenses.
The offering is due to close on 21 January.
It comprises $750 million of 2.125% senior unsecured notes due 2026 and $750 million of 2.75% senior unsecured notes due 2028.
JP Morgan Securities, BNP Paribas, MUFG , Mizuho Securities and Truist Bank were the banks in the transaction.
The bond was three times oversubscribed. Orders reached $4.5 billion, sources indicate, with a book size on the five-year bond of $2.2 billion and of $2.3 billion on the seven-year tranche.
Fitch Ratings and Standard & Poor’s rated both tranches at BBB- while Moody’s rating was Baa3.
The notes will be fully and unconditionally guaranteed by Avolon, and by certain of its subsidiaries.
