US$800 million Senior Notes due 2024 and US$300 million Senior Notes due 2022
Dublin | 14 February, 2019: Avolon Holdings Limited (“Avolon”), the international aircraft leasing company, announces the pricing of a private offering by its wholly owned subsidiary, Avolon Holdings Funding Limited, of US$800 million aggregate principal amount of 5.25% Senior Notes due 2024 (the “2024 Notes”), at par.
Additionally, Avolon also announces the pricing of a private offering by its wholly owned subsidiary, Park Aerospace Holdings Limited, of US$300 million aggregate principal amount of 5.25% Senior Notes maturing 2022 at an offering price of 101.375%, plus accrued interest (the “2022 Notes”, and together with the 2024 Notes, the “Notes”) adding to a previous issue in January 2017 of US$1.75 billion of 5.25% notes maturing 2022 (the “Existing Park Notes”) (together the “Offerings”). The 2022 Notes will be treated as a single series with, and have substantially the same terms as, the Existing Park Notes and are expected to be fungible with the Existing Park Notes.
The Notes will be fully and unconditionally guaranteed by Avolon, and by certain of its subsidiaries.
The Offerings are expected to close on or about 1 March, 2019, subject to customary closing conditions. Avolon intends to use the net proceeds from the Offerings for general corporate purposes, which may include the future repayment of outstanding indebtedness.
The Notes will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), or any state securities law and may not be offered or sold in the United States absent registration or an applicable exemption from registration under the Securities Act and applicable state securities laws. The Notes will be offered in the United States only to qualified institutional buyers under Rule 144A of the Securities Act and outside the United States under Regulation S of the Securities Act.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.