Launch Of Senior Unsecured Notes Offering; Fitch, Moody’s And S&P Global Announce Intention To Upgrade Avolon To Investment Grade

Dublin | 11 April, 2019: Avolon Holdings Limited (“Avolon”), the international aircraft leasing company, announces the launch of a private offering by its wholly owned subsidiary, Avolon Holdings Funding Limited, of US$1.8 billion aggregate principal amount of Senior Unsecured Notes (the “Notes”) (the “Offering”) subject to market and other conditions.

Proceeds from the Offering will be used for general corporate purposes and the repayment of outstanding legacy secured debt, consistent with a commitment to reduce the level of secured debt in Avolon’s capital structure to 30% of total assets.

Fitch Ratings (“Fitch”), Moody’s Investors Service (“Moody's”) and S&P Global Ratings (“S&P Global”) announced their intention, on successful completion of the Offering, to upgrade Avolon’s issuer and senior unsecured debt ratings to investment grade (BBB-, Baa3 and BBB- respectively).