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 earlier this month
(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.
The 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. International capital is accessible to prudent,
well-managed businesses, with credible long-term growth
prospects.”
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By GlobalDataclaire.hack@vrlfinancialnews.com
