Avolon, a global aviation finance company, repriced and extended its $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.
“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,” Ross O’Connor, chief financial officer of Avolon, said. “The transaction was well supported by our broad lender base and is consistent with our strategy to actively manage our balance sheet.”
