Wed, Jan 26, 2011
Consortium Of Three Leading U.S. Banks Led By Wells Fargo
Securities
Aircraft leasing group Avolon said Tuesday that it has raised an
additional $465 million in capital, bringing the total value of
funds raised since May 2010 to over $2.5 billion.
The capital raising is the third announced by Avolon in 8 months
and consists of a fully underwritten long-term debt facility
(including warehouse capacity) from a consortium of three leading
US banks. The transaction was led and structured by Wells Fargo
Securities and the consortium includes Citi and Morgan Stanley. It
is intended that proceeds will be used to fund Avalon's growing
aircraft fleet.
The $465 million additional capital raising brings the total
capital raised by Avolon, since launch in May 2010, to over $2.5
billion. This comprises US$1 billion of equity and over $1.5
billion of debt. This recent capital raising is from a consortium
of 3 leading US banks. The transaction was led and structured
by Wells Fargo Securities and the consortium includes Citi and
Morgan Stanley. Avolon has already raised over $1 billion in debt
financing from a range of leading European aviation finance banks
including DVB, Nord LB, KfW IPEX Bank, UBS, Deutsche Bank, BNP
Paribas and Credit Agricole CIB. This initial financing included a
$400 million warehouse facility which was the first facility of
this type to be successfully executed in three years.
"This debt raising is an important step in broadening our Lender
base, introducing three new, US based, Lenders to Avolon," said
Avolon Chief financial Officer, Andy Cronin. "These
significant commitments are an endorsement of the Avolon business
model, the industry-leading team we have assembled and the strength
of the portfolio we are building. International capital is
accessible to prudent, well managed businesses, with credible long
long term prospects."
More News
Runway Centerline Lighting Flush centerline lights spaced at 50-foot intervals beginning 75 feet from the landing threshold and extending to within 75 feet of the opposite end of t>[...]
Aero Linx: Air Force Global Strike Command Air Force Global Strike Command, activated August 7, 2009, is a major command with headquarters at Barksdale Air Force Base, Louisiana, i>[...]
Also: Viasat-uAvionix, UL94 Fuel Investigation, AF Materiel Command, NTSB Safety Alert Norges Luftsportforbund chose Aura Aero's little 2-seater in electric trim for their next gli>[...]
Also: USCG Retires MH-65 Dolphins, Irish Aviation Authority, NATCA Warns FAA, Diamond DA42 AD This summer, history enthusiasts will have a unique opportunity to experience World Wa>[...]
Also: Moya Delivery Drone, USMC Drone Pilot, Inversion RAY Reentry Vehicle, RapidFlight UAVOS has recently achieved a significant milestone in public safety and emergency services >[...]