Avolon selling $750 million five-year bullet paper on Thursday; whisper is 5¼% area

By Paul A. Harris

Portland, Ore., Sept. 6 – Avolon Holdings Ltd. plans to price $750 million of five-year senior bullet notes in a quick-to-market Thursday trade following a late-morning conference call with investors, according to market sources.

Initial guidance has the deal coming to yield in the 5¼% area, a trader said.

J.P. Morgan Securities LLC, BNP Paribas Securities Corp., Barclays, Credit Agricole CIB, Fifth Third Bank, Morgan Stanley & Co. LLC, Natixis, SG CIB and SunTrust Robinson Humphrey Inc. are the joint bookrunners.

The Ireland-based provider of aircraft leasing and lease management services plans to use the proceeds to refinance existing secured debt and for general corporate purposes.

Last March, Avolon Holdings priced a $500 million issue of 5½% bullet notes due 2023 at par.

The bonds which are being sold Thursday represent a new tranche, a sellside source said.

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