Dublin & Hong Kong | 14 September, 2017: Avolon Holdings Limited (“Avolon”), the international aircraft leasing company, announces the pricing of a private offering (the “Offering”) by its wholly owned subsidiary, Park Aerospace Holdings Limited, of US$950 million aggregate principal amount of 4.500% Senior Notes due 2023 (the “2023 Notes”), at par, and US$300 million aggregate principal amount of 3.625% Senior Notes due 2021 (together with the 2023 notes, the “Notes”), at par. The Notes will be fully and unconditionally guaranteed by Avolon and by certain of the aircraft-owning subsidiaries of Park Aerospace Holdings Limited. The Offering is expected to close on or about 25 September, 2017, subject to customary closing conditions.
Avolon intends to use the net proceeds from the Offering 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.