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Avolon readies launch of $5.5 billion term loan B for Monday
By Sara Rosenberg
New York, Jan. 6 – Avolon is scheduled to hold a lenders’ presentation at 9:30 a.m. ET on Monday to launch a $5.5 billion senior secured first-lien term loan B, according to a market source.
Morgan Stanley Senior Funding Inc., UBS Investment Bank, Barclays, J.P. Morgan Securities LLC, BNP Paribas Securities Corp., Credit Agricole CIB and SunTrust Robinson Humphrey Inc. are the leads on the deal.
Proceeds will be used to partially finance the acquisition of CIT Group Inc.’s commercial aerospace leasing business for $10 billion.
The transaction is expected to close this quarter, subject to customary conditions and regulatory approvals.
Avolon is an Ireland-based provider of aircraft leasing and lease management services.
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