Avolon Raises US$750 Million in New Unsecured Bank Facility

- Facility includes new banking relationships in Middle East and India

- JP Morgan and Emirates NBD acted as joint bookrunners

Avolon, a leading global aviation finance company, announces it has raised US$750 million in a new unsecured credit facility with a syndicate of seven banks predominantly in the Middle East and India.

The transaction further diversifies Avolon’s sources of capital, accessing new liquidity pools with significant appetite for high quality lending opportunities in the aviation sector.

The facility has a three-year tenor with options for extension to up to five years. JP Morgan and Emirates NBD acted as joint bookrunners on this transaction.

This transaction means Avolon has raised over US$3.4 billion in 2024 from a diverse range of funding sources in the public and private markets.

Ross O’Connor, Avolon CFO, commented: “This $750 million facility further diversifies our access to capital and forges new banking relationships in the Middle East and India. Deepening our sources of liquidity ensures we can continue to capitalise on attractive market dynamics and we appreciate the support of JP Morgan, Emirates NBD and the wider bank syndicate.”

Puja Turner, Head of CEEMEA Loans & Structured Credit at JP Morgan, commented: “We’re pleased to partner with Avolon on this transaction, using the strength of our franchise to support their growth. As banks in the Middle East and India deepen their understanding of the lessor business model and look to deploy capital beyond domestic markets, we anticipate they will be a growing source of funding for aviation businesses with a strong track record.”

Aamir Mansoor, Head of GRE and Aviation Desk at Emirates NBD, commented: “We are delighted to support Avolon's growth and to forge a strong relationship with yet another leading player in the global aviation industry. As aviation continues to be a vital driver of economic expansion, we foresee significant opportunities for the sector in the coming years. As pioneers in setting up a dedicated Aviation Desk within the UAE, we bring unparalleled regional expertise and a vision to transform aviation finance. We remain committed to leading and shaping the future of aviation finance, reinforcing our position as a regional powerhouse in this sector.”

Avolon’s available liquidity at 31 March 2024 was US$6.6 billion, with a net debt to equity ratio of 2.2 times. The proceeds of the facility will be used for general corporate purposes.

About Avolon

Avolon is a leading global aviation finance company connecting capital with customers to drive the transformation of aviation and the economic and social benefits of global travel. We pride ourselves on our deep customer relationships, our collaborative team approach, and our fast execution. We invest with a long-term perspective, diversifying risk and managing capital efficiently to maintain our strong balance sheet. Working with 145 airlines in 64 countries, Avolon has an owned, managed, and committed fleet of 1,033 aircraft, as of 31 March 2024. www.avolon.aero

Note Regarding Forward-Looking Statements

This document includes forward-looking statements, beliefs or opinions, including statements with respect to Avolon’s business, financial condition, results of operations and plans. These forward-looking statements involve known and unknown risks and uncertainties, many of which are beyond our control and all of which are based on our management’s current beliefs and expectations about future events. Forward-looking statements are sometimes identified by the use of forward-looking terminology such as “believe,” “expects,” “may,” “will,” “could,” “should,” “shall,” “risk,” “intends,” “estimates,” “aims,” “plans,” “predicts,” “continues,” “assumes,” “positioned” or “anticipates” or the negative thereof, other variations thereon or comparable terminology or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward-looking statements include all matters that are not historical facts, including with respect to the closing of the Offering. Forward-looking statements may and often do differ materially from actual results. No assurance can be given that such future results will be achieved, that any private placement of senior unsecured notes will occur following the investor calls or, regardless of whether a private placement of senior unsecured notes is consummated, that any ratings agencies will upgrade Avolon to investment grade. Avolon does not intend, and undertakes no duty, to update any information contained herein to reflect future events or circumstances, except as required by applicable law.

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