Avolon extends loan facility to US$1.7 billion; BOC Aviation delivers A320neo to Uzbekistan Airways


Avolon Holdings, the international aircraft leasing company, announces the extension of the TLB-3 tranche of its senior secured US$2.92 billion Term Loan B facility. The TLB-3 tranche has been extended from January 2025 to June 2028 through a new TLB-6 tranche and upsized by US$250 million, bringing the total size to $1.68 billion. The TLB-6 priced at SOFR plus 2.5% with a SOFR floor of 0.5%, subject to an original issue discount (OID) of 99.0.

Ross O’Connor, Avolon Chief Financial Officer, commented: “We are very pleased to have successfully upsized our term loan facility and to have extended its maturity to 2028. The upsizing of the transaction reflects strong demand from both existing and new investors, reflective of the quality of our portfolio and the strength of our business. Together with our recent $750 million unsecured notes issuance, we have raised over $2.4 billion of capital in the second quarter to date, which will support our growth against a backdrop of increasing demand for aircraft from airlines.”

Headquartered in Ireland, with offices in the United States, Dubai, Singapore, and Hong Kong, Avolon provides aircraft leasing and lease management services. Avolon is 70% owned by an indirect subsidiary of Bohai Leasing Co., Ltd., a public company listed on the Shenzhen Stock Exchange and 30% owned by ORIX Aviation Systems, a subsidiary of ORIX Corporation which is listed on the Tokyo and New York Stock Exchanges.

BOC Aviation delivers A320neo to Uzbekistan Airways
BOC Aviation Limited announced it has delivered the first of a new group of four Airbus A320neo aircraft on lease to Uzbekistan Airways. BOC Aviation previously leased three A320neo to the airline. The aircraft are all powered by CFM LEAP-1A engines.

“We are delighted to deliver the first of another four A320NEO aircraft to Uzbekistan Airways and are looking forward to supporting the airline’s growth plans,” said Robert Martin, Managing Director and Chief Executive Officer, BOC Aviation. “This transaction reflects our strategy to build a portfolio of latest technology aircraft.”

“Today, we’ve received new aircraft from our partner – BOC Aviation and we are getting closer to our goal of connecting even more cities, countries and expanding network of Uzbekistan Airways in the world,” said Shukhrat Khudaykulov, Chief Executive Officer of Uzbekistan Airways. “We will continue our long-term cooperation, according to our principles of special attention to comfort and safety in fleet expansion strategy.”

Uzbekistan Airways was established 31 years ago and operates the A320/321, Boeing 767 and 787-8 Dreamliner to more than 50 destinations in Europe, Asia and North America.

For Editorial Inquiries Contact:
Editor Matt Driskill at matt.driskill@asianaviation.com
For Advertising Inquiries Contact:
Head of Sales Kay Rolland at kay.rolland@asianaviation.com

AAV Media Kit
Previous articleVistara expands Lufthansa codeshare; Air Canada starts new Vancouver to Singapore service
Next articleVista says strong Q1 shows recovery in Asia-Pacific


Please enter your comment!
Please enter your name here