By Cristal Cody
Chicago, Jan. 17 – Avolon Holdings Ltd. subsidiary Avolon Holdings Funding Ltd. detailed some of the terms on a $1.15 billion offering of 5.75% senior notes due March 1, 2029 (Baa3/BBB-) that priced on Tuesday, according to a news release and more information from a market source.
The notes priced at Treasuries plus 200 basis points after talk in the Treasuries plus 225 bps area.
BNP Paribas Securities Corp., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Scotia Capital (USA) Inc. and Truist Securities, Inc. were the bookrunners.
Proceeds of the Rule 144A and Regulation S offering will be used for general corporate purposes, including repayment of existing debt.
The aircraft leasing company is based in Dublin.
| Issuer: | Avolon Holdings Funding Ltd.
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| Guarantors: | Avolon Holdings Ltd. and certain subsidiaries
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| Amount: | $1.15 billion
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| Issue: | Senior notes
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| Maturity: | March 1, 2029
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| Bookrunners: | BNP Paribas Securities Corp., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Scotia Capital (USA) Inc. and Truist Securities, Inc.
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| Coupon: | 5.75%
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| Spread: | Treasuries plus 200 bps
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| Trade date: | Jan. 16
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| Settlement date: | Jan. 25
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| Ratings: | Moody’s: Baa3
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| S&P: BBB-
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| Distribution: | Rule 144A and Regulation S
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| Price talk: | Treasuries plus 225 bps area
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