Aircraft lessor Avolon has
raised $465m (€341m) in its third round of capital raising since
May 2010.
It takes the total amount of
new capital raised to more than $2.5bn, including $650m in January
2011.
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The latest sum consists of a
debt facility from a consortium of three US banks.
The transaction was led and
structured by Wells Fargo Securities and the proceeds will be used
to expand Avolon’s growing aircraft fleet.
The facility increases
Avolon’s underwriting capacity, providing term financing for a
number of aircraft and a warehouse.
The lessor has a fleet of 60
committed aircraft, valued at more than $2.8bn.
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By GlobalDataThe sums raised by Avolon
include $1bn in debt financing from a large number of European
aviation finance banks, such as DVB, UBS, Deutsche Bank, BNP
Paribas and Crédit Agricole CIB.
Avolon chief financial officer Andy Cronin said: “This
debt raising is an important step in broadening our lender
base.”
