BOC Aviation Limited recently announced its operational transactions for the quarter ended 30 September 2024. The company said it has a total fleet of 693 aircraft owned, managed and on order. It said its fleet had an average aircraft age of 5.0 years and an average remaining lease term of 7.8 years for the 430 owned aircraft fleet, both weighted by net book value.
The company said its managed fleet comprised 32 aircraft and it had an order book of 231 aircraft. It also said it executed a total of 70 transactions in the third quarter of 2024, including: Commitments to purchase 19 aircraft; delivery of seven aircraft; the sale of six owned aircraft; and had 35 lease commitments.
BOC Aviation also said it had a customer base of 93 airlines in 48 countries and regions in the owned and managed portfolios and its owned aircraft utilisation remained at 99% as at 30 September 2024. The company also said it raised US$500 million of seven-year bonds at a coupon of 4.625% per annum.
BOC Aviation is listed on the Hong Kong Stock Exchange (HKEx code: 2588) and has its headquarters in Singapore with offices in Dublin, London, New York and Tianjin.
Avolon reprices, extends US$2.3 billion loan
Aviation finance company Avolon announced the repricing and extension of its US$2.33 billion senior secured Term Loan B-6 facility. The facility priced at SOFR plus 1.75% (from 2.00% previously) with a SOFR floor of 0.50%, and an original issue discount (OID) of 99.875. The facility’s maturity was extended by two years to 22 June 2030.
Ross O’Connor, Chief Financial Officer, Avolon said: “We are very pleased to have successfully extended the maturity of our US$2.3 billion Term Loan B-6 to June 2030, and to have repriced the facility downwards for the second time in 12 months, with a cumulative reduction of 75bps from the original margin. The transaction was well supported by our broad lender base and is consistent with our strategy to actively manage our balance sheet.”
Working with 141 airlines in 62 countries, Avolon has an owned, managed, and committed fleet of 1,137 aircraft as of 30 September 2024 on a pro forma basis including the proposed acquisition of Castlelake Aviation.
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