Latest news with #Avolon
Yahoo
2 days ago
- Business
- Yahoo
Avolon Agrees to Lease 10 Airbus A321neos to AJet Hava Taşimaciliği
- Announced at Paris Air Show with Turkish Airlines subsidiary AJet - Avolon has an orderbook of 294 A320neo family aircraft - Aircraft are scheduled for delivery in 2027 PARIS, June 18, 2025--(BUSINESS WIRE)--Avolon, a leading global aviation finance company, has agreed to lease 10 Airbus A321neos to AJet, the low-cost carrier subsidiary of Turkish Airlines, the national flag carrier airline of Türkiye. The agreement was marked by a ceremony at the Paris Air Show, and the new aircraft are scheduled to be delivered in 2027. The aircraft will support AJet's fleet renewal and network expansion strategy. AJet currently operates 92 aircraft flying to 100 destinations in Türkiye, the Middle East, Europe, North Africa and CIS. Avolon has 140 A320neo family aircraft in its delivered fleet, and 294 A320neo family aircraft in its orderbook. These aircraft deliver 20% lower fuel burn, CO2 emissions and 50% noise reduction compared to previous-generation Airbus A320 aircraft. Andy Cronin, Avolon CEO, commented: "We are delighted to further strengthen our partnership with Turkish Airlines and support AJet's continued growth. Our large A320neo family orderbook is in high demand from airlines who are looking to expand their route networks and renew their fleet with new technology aircraft. This positions us as a preferred partner for airlines and, coupled with our scale and balance sheet strength, will drive sustained growth for the business well into the next decade." Prof Ahmet Bolat, Turkish Airlines Chairman of the Board and the Executive Committee, commented: "We are pleased to expand our partnership with Avolon through this latest agreement. The addition of these next-generation A321neo aircraft will support AJet's growth strategy while contributing to our sustainability goals with improved fuel efficiency and lower emissions. We look forward to continuing our cooperation as we expand AJet's network and enhance its fleet." 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 141 airlines in 60 countries, Avolon has an owned, managed, and committed fleet of 1,096 aircraft, as of 31 March 2025. About Turkish Airlines Established in 1933 with a fleet of five aircraft, Star Alliance member Turkish Airlines has a fleet of 485 (passenger and cargo) aircraft flying to 353 worldwide destinations as 300 international and 53 domestics in 131 countries. More information about Turkish Airlines can be found on its official website or its social media accounts on Facebook, X, YouTube, LinkedIn and Instagram. About AJet AJet is a Turkish Airlines brand established with an innovative approach to elevate the standards of affordable travel in low-cost air transportation by offering a high quality of service. Our brand promises a safe and comfortable flight experience to our guests with a fleet of young and eco-friendly aircraft, featuring a simple and spacious design. Additionally, as a digital airline, we plan to offer a time-saving service through user-friendly applications and a reservation system that allows our guests to complete their pre-flight procedures quickly and easily. For more information and the latest updates about AJet, you can visit or follow us on our social media accounts on Facebook, X, YouTube, LinkedIn and Instagram. View source version on Contacts David Breen / Darragh CrowleyAvolon Investor Relationsir@ T: +353 1 231 5800 Douglas KeatingeAvolon Head of Communicationsdkeatinge@ T: +353 86 037 4163 Turkish Airlines of Media RelationsTel: +90 (212) 463 63 63 – 11153 / 11173Fax: +90 (212) 465 20 78press@ Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Business Wire
2 days ago
- Business
- Business Wire
Avolon Agrees to Lease 10 Airbus A321neos
PARIS--(BUSINESS WIRE)--Avolon, a leading global aviation finance company, has agreed to lease 10 Airbus A321neos to AJet, the low-cost carrier subsidiary of Turkish Airlines, the national flag carrier airline of Türkiye. The agreement was marked by a ceremony at the Paris Air Show, and the new aircraft are scheduled to be delivered in 2027. The aircraft will support AJet's fleet renewal and network expansion strategy. AJet currently operates 92 aircraft flying to 100 destinations in Türkiye, the Middle East, Europe, North Africa and CIS. Avolon has 140 A320neo family aircraft in its delivered fleet, and 294 A320neo family aircraft in its orderbook. These aircraft deliver 20% lower fuel burn, CO2 emissions and 50% noise reduction compared to previous-generation Airbus A320 aircraft. Andy Cronin, Avolon CEO, commented: 'We are delighted to further strengthen our partnership with Turkish Airlines and support AJet's continued growth. Our large A320neo family orderbook is in high demand from airlines who are looking to expand their route networks and renew their fleet with new technology aircraft. This positions us as a preferred partner for airlines and, coupled with our scale and balance sheet strength, will drive sustained growth for the business well into the next decade.' Prof Ahmet Bolat, Turkish Airlines Chairman of the Board and the Executive Committee, commented: 'We are pleased to expand our partnership with Avolon through this latest agreement. The addition of these next-generation A321neo aircraft will support AJet's growth strategy while contributing to our sustainability goals with improved fuel efficiency and lower emissions. We look forward to continuing our cooperation as we expand AJet's network and enhance its fleet.' 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 141 airlines in 60 countries, Avolon has an owned, managed, and committed fleet of 1,096 aircraft, as of 31 March 2025. About Turkish Airlines Established in 1933 with a fleet of five aircraft, Star Alliance member Turkish Airlines has a fleet of 485 (passenger and cargo) aircraft flying to 353 worldwide destinations as 300 international and 53 domestics in 131 countries. More information about Turkish Airlines can be found on its official website or its social media accounts on Facebook, X, YouTube, LinkedIn and Instagram. About AJet AJet is a Turkish Airlines brand established with an innovative approach to elevate the standards of affordable travel in low-cost air transportation by offering a high quality of service. Our brand promises a safe and comfortable flight experience to our guests with a fleet of young and eco-friendly aircraft, featuring a simple and spacious design. Additionally, as a digital airline, we plan to offer a time-saving service through user-friendly applications and a reservation system that allows our guests to complete their pre-flight procedures quickly and easily. For more information and the latest updates about AJet, you can visit or follow us on our social media accounts on Facebook, X, YouTube, LinkedIn and Instagram.
Yahoo
03-06-2025
- Business
- Yahoo
Avolon Announces Pricing Terms of Previously Announced Debt Tender Offers
DUBLIN, June 03, 2025--(BUSINESS WIRE)--Avolon Holdings Limited ("Avolon" or the "Company"), a leading global aviation finance company, announced today the pricing terms of the previously announced offers by Avolon Holdings Funding Limited, a Cayman Islands exempted company and a direct wholly-owned subsidiary of Avolon ("Avolon Holdings Funding" or the "Offeror" and, together with the Company and its consolidated subsidiaries, "we," "our" or "us"), to purchase for cash each series (each, a "Series") of the notes listed in the table below (the "Notes") (i) in accordance with, and in the order of, the corresponding Acceptance Priority Levels and (ii) subject to the Maximum Tender Cap (as defined below) and pro rata allocation, upon the terms and subject to the conditions set forth in the Offer to Purchase (as defined below). The offers to purchase with respect to each Series of Notes are referred to herein as the "Offers" and each, an "Offer." Each Offer is made upon the terms and subject to the conditions set forth in the offer to purchase, dated May 19, 2025 (as amended or supplemented from time to time, the "Offer to Purchase"). Capitalized terms used but not defined in this press release have the meanings given to them in the Offer to Purchase. Because the aggregate purchase price (excluding Accrued Interest (as defined below)) of the Notes validly tendered and not validly withdrawn as of 5:00 p.m., New York City time, on June 2, 2025 (the "Early Tender Deadline") exceeds the Maximum Tender Cap, we will accept for purchase such Notes in accordance with the Acceptance Priority Levels, subject to the proration factors, each as set forth in the table below and as further described in the Offer to Purchase, so as not to exceed the Maximum Tender Cap. The applicable Total Consideration for each $1,000 in principal amount of Notes validly tendered and not validly withdrawn before the Early Tender Deadline and accepted for purchase pursuant to the Offers was determined by reference to the applicable fixed spread for each Series of Notes over the yield based on the bid price of the applicable reference security, in each case as set forth in the table below. The Tender Offer Yields (as determined pursuant to the Offer to Purchase) listed in the table below were determined at 9:00 A.M., New York City time, today, June 3, 2025, by the Dealer Managers (as defined below). The Total Consideration for each Series includes an early tender premium (the "Early Tender Premium") of $30.00 per $1,000 principal amount of Notes accepted for purchase and accounts for the maturity date or par call date, as applicable. The following table sets forth the pricing terms for the Offers: Issuer / Offeror Title ofSecurity Security Identifiers Maturity Date / Par Call Date AcceptancePriorityLevel Principal Amount to be Accepted and Cancelled Proration Factor (rounded) ReferenceSecurity Fixed Spread Tender Offer Yield Total Consideration(1) Avolon Holdings Funding 4.250% Senior Notes due 2026* CUSIP: 05401AAL5 / G0686BAK5 ISIN: US05401AAL52 / USG0686BAK55 April 15, 2026 / March 15, 2026 1 $634,950,000 100% 3.750% UST due 4/30/2027 80 bps 4.753% $995.75 Avolon Holdings Funding 4.375% Senior Notes due 2026* CUSIP: 05401AAG6 / G0686BAF6 ISIN: US05401AAG67 / USG0686BAF60 May 1, 2026 / March 1, 2026 2 $298,065,000 100% 3.750% UST due 4/30/2027 80 bps 4.753% $996.65 Avolon Holdings Funding 2.125% Senior Notes due 2026* CUSIP: 05401AAM3 / G0686BAL3 ISIN: US05401AAM36 / USG0686BAL39 February 21, 2026 / January 21, 2026 3 $275,664,000 60% 3.750% UST due 4/30/2027 80 bps 4.753% $981.81 Avolon Holdings Funding 5.500% Senior Notes due 2026* CUSIP: 05401AAK7 / G0686BAJ8 ISIN: US05401AAK79 / USG0686BAJ82 January 15, 2026 / December 15, 2025 4 $0 0% 3.750% UST due 4/30/2027 80 bps N/A N/A ____________________ * Admitted to trading on the Irish Stock Exchange plc, trading as Euronext Dublin ("Euronext Dublin"). (1) Per $1,000 principal amount of Notes validly tendered and not validly withdrawn and accepted for purchase in the applicable Offer at or prior to the Early Tender Deadline. The Total Consideration was determined taking into account the maturity date or par call date, as applicable, for each Series. Excludes Accrued Interest. Includes the Early Tender Premium. We expect settlement for Notes validly tendered and not validly withdrawn at or prior to the Early Tender Deadline and accepted for purchase to occur on June 5, 2025. All payments for Notes validly tendered and not validly withdrawn at or prior to the Early Tender Deadline and accepted for purchase will also include accrued and unpaid interest from the last interest payment date up to, but not including, the Early Settlement Date (the "Accrued Interest"). All Notes that have been accepted for purchase will be retired and canceled and will no longer remain outstanding obligations of the Company, the Offeror or any of the Company's other subsidiaries. Such Notes will also be delisted from Euronext Dublin. The Offers will expire at 5:00 P.M., New York City time, on June 17, 2025 (as the same may be extended with respect to any Offer, the "Expiration Date"). As a result of reaching the previously announced amount of $1,200,000,000 (as so amended, the "Maximum Tender Cap") by the Early Tender Deadline, no Notes tendered after the Early Tender Deadline will be accepted for purchase, regardless of their Acceptance Priority Level. Notes not accepted for purchase will be returned promptly to the tendering holders of the Notes ("Holders") (or, in the case of Notes tendered by book-entry transfer, such Notes will be promptly credited to the account maintained at The Depository Trust Company from which such Notes were delivered) and otherwise returned in accordance with the Offer to Purchase. We expressly reserve the right, in our sole discretion, to amend, extend or, upon failure of any condition described in the Offer to Purchase to be satisfied or waived, to terminate any of the Offers, including the right to amend or eliminate the Maximum Tender Cap, at any time at or prior to the Expiration Date. Deutsche Bank Securities Inc. and Lloyds Securities Inc. are serving as the Lead Dealer Managers, and Huntington Securities, Inc., ING Financial Markets LLC, KeyBanc Capital Markets Inc. and NatWest Markets Securities Inc. are serving as Co-Dealer Managers, in connection with the Offers (collectively, the "Dealer Managers"). Questions regarding terms and conditions of the Offers should be directed to Deutsche Bank Securities, Inc. by calling toll free at 866-627-0391 or to Lloyds Securities Inc. by calling collect at +1 212-827-3145. Global Bondholder Services Corporation has been appointed as information agent (the "Information Agent") and tender agent (the "Tender Agent") in connection with the Offers. Questions or requests for assistance in connection with the Offers or the delivery of tender instructions, or for additional copies of the Offer to Purchase, may be directed to Global Bondholder Services Corporation by calling collect at 212-430-3774 (for banks and brokers) or toll free at 855-654-2014 (for all others) or via e-mail at contact@ You may also contact your broker, dealer, commercial bank, trust company or other nominee for assistance concerning the Offers. The Offer to Purchase can also be accessed at the following website: None of Avolon Holdings Funding, the Company, the Dealer Managers, Global Bondholder Services Corporation, the trustee under the indenture governing the Notes or any of their respective affiliates is making any recommendation as to whether Holders should tender any Notes in response to the Offers. Holders must make their own decision as to whether to tender any of their Notes and, if so, the principal amounts of Notes to tender. This press release is for informational purposes only and is not an offer to purchase or sell or a solicitation of an offer to purchase or sell with respect to any securities. Neither this press release nor the Offer to Purchase, or the electronic transmission thereof, constitutes an offer to purchase or sell or a solicitation of an offer to purchase or sell with respect to any securities, as applicable, in any jurisdiction in which, or to or from any person to or from whom, it is unlawful to make such offer or solicitation under applicable securities laws or otherwise. The distribution of this press release in certain jurisdictions may be restricted by law. In those jurisdictions where the securities, blue sky or other laws require the Offers to be made by a licensed broker or dealer and the Dealer Managers or any of their respective affiliates is such a licensed broker or dealer in any such jurisdiction, the Offers shall be deemed to be made by the Dealer Managers or such affiliate, as the case may be, on behalf of the Company in such jurisdiction. THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014. This announcement is released by the Offeror and may contain inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 ("MAR"), encompassing information relating to the Notes. For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/155, this announcement is made by the directors of the Offeror. 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 141 airlines in 60 countries, Avolon has an owned, managed, and committed fleet of 1,096 aircraft, as of 31 March 2025. 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. Forward-looking statements may and often do differ materially from actual results. No assurance can be given that such future results will be achieved. 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. View source version on Contacts For Further Information Please Contact David Breen / Darragh CrowleyAvolon Investor Relationsir@ T: +353 1 231 5800 Douglas KeatingeAvolon Head of Communicationsdkeatinge@ T: +353 86 037 4163 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
03-06-2025
- Business
- Business Wire
Avolon Announces Pricing Terms of Previously Announced Debt Tender Offers
DUBLIN--(BUSINESS WIRE)--Avolon Holdings Limited ('Avolon' or the 'Company'), a leading global aviation finance company, announced today the pricing terms of the previously announced offers by Avolon Holdings Funding Limited, a Cayman Islands exempted company and a direct wholly-owned subsidiary of Avolon ('Avolon Holdings Funding' or the 'Offeror' and, together with the Company and its consolidated subsidiaries, 'we,' 'our' or 'us'), to purchase for cash each series (each, a 'Series') of the notes listed in the table below (the 'Notes') (i) in accordance with, and in the order of, the corresponding Acceptance Priority Levels and (ii) subject to the Maximum Tender Cap (as defined below) and pro rata allocation, upon the terms and subject to the conditions set forth in the Offer to Purchase (as defined below). The offers to purchase with respect to each Series of Notes are referred to herein as the 'Offers' and each, an 'Offer.' Each Offer is made upon the terms and subject to the conditions set forth in the offer to purchase, dated May 19, 2025 (as amended or supplemented from time to time, the 'Offer to Purchase'). Capitalized terms used but not defined in this press release have the meanings given to them in the Offer to Purchase. Because the aggregate purchase price (excluding Accrued Interest (as defined below)) of the Notes validly tendered and not validly withdrawn as of 5:00 p.m., New York City time, on June 2, 2025 (the 'Early Tender Deadline') exceeds the Maximum Tender Cap, we will accept for purchase such Notes in accordance with the Acceptance Priority Levels, subject to the proration factors, each as set forth in the table below and as further described in the Offer to Purchase, so as not to exceed the Maximum Tender Cap. The applicable Total Consideration for each $1,000 in principal amount of Notes validly tendered and not validly withdrawn before the Early Tender Deadline and accepted for purchase pursuant to the Offers was determined by reference to the applicable fixed spread for each Series of Notes over the yield based on the bid price of the applicable reference security, in each case as set forth in the table below. The Tender Offer Yields (as determined pursuant to the Offer to Purchase) listed in the table below were determined at 9:00 A.M., New York City time, today, June 3, 2025, by the Dealer Managers (as defined below). The Total Consideration for each Series includes an early tender premium (the 'Early Tender Premium') of $30.00 per $1,000 principal amount of Notes accepted for purchase and accounts for the maturity date or par call date, as applicable. The following table sets forth the pricing terms for the Offers: ____________________ * Admitted to trading on the Irish Stock Exchange plc, trading as Euronext Dublin ('Euronext Dublin'). (1) Per $1,000 principal amount of Notes validly tendered and not validly withdrawn and accepted for purchase in the applicable Offer at or prior to the Early Tender Deadline. The Total Consideration was determined taking into account the maturity date or par call date, as applicable, for each Series. Excludes Accrued Interest. Includes the Early Tender Premium. Expand We expect settlement for Notes validly tendered and not validly withdrawn at or prior to the Early Tender Deadline and accepted for purchase to occur on June 5, 2025. All payments for Notes validly tendered and not validly withdrawn at or prior to the Early Tender Deadline and accepted for purchase will also include accrued and unpaid interest from the last interest payment date up to, but not including, the Early Settlement Date (the 'Accrued Interest'). All Notes that have been accepted for purchase will be retired and canceled and will no longer remain outstanding obligations of the Company, the Offeror or any of the Company's other subsidiaries. Such Notes will also be delisted from Euronext Dublin. The Offers will expire at 5:00 P.M., New York City time, on June 17, 2025 (as the same may be extended with respect to any Offer, the 'Expiration Date'). As a result of reaching the previously announced amount of $1,200,000,000 (as so amended, the 'Maximum Tender Cap') by the Early Tender Deadline, no Notes tendered after the Early Tender Deadline will be accepted for purchase, regardless of their Acceptance Priority Level. Notes not accepted for purchase will be returned promptly to the tendering holders of the Notes ('Holders') (or, in the case of Notes tendered by book-entry transfer, such Notes will be promptly credited to the account maintained at The Depository Trust Company from which such Notes were delivered) and otherwise returned in accordance with the Offer to Purchase. We expressly reserve the right, in our sole discretion, to amend, extend or, upon failure of any condition described in the Offer to Purchase to be satisfied or waived, to terminate any of the Offers, including the right to amend or eliminate the Maximum Tender Cap, at any time at or prior to the Expiration Date. Deutsche Bank Securities Inc. and Lloyds Securities Inc. are serving as the Lead Dealer Managers, and Huntington Securities, Inc., ING Financial Markets LLC, KeyBanc Capital Markets Inc. and NatWest Markets Securities Inc. are serving as Co-Dealer Managers, in connection with the Offers (collectively, the 'Dealer Managers'). Questions regarding terms and conditions of the Offers should be directed to Deutsche Bank Securities, Inc. by calling toll free at 866-627-0391 or to Lloyds Securities Inc. by calling collect at +1 212-827-3145. Global Bondholder Services Corporation has been appointed as information agent (the 'Information Agent') and tender agent (the 'Tender Agent') in connection with the Offers. Questions or requests for assistance in connection with the Offers or the delivery of tender instructions, or for additional copies of the Offer to Purchase, may be directed to Global Bondholder Services Corporation by calling collect at 212-430-3774 (for banks and brokers) or toll free at 855-654-2014 (for all others) or via e-mail at contact@ You may also contact your broker, dealer, commercial bank, trust company or other nominee for assistance concerning the Offers. The Offer to Purchase can also be accessed at the following website: None of Avolon Holdings Funding, the Company, the Dealer Managers, Global Bondholder Services Corporation, the trustee under the indenture governing the Notes or any of their respective affiliates is making any recommendation as to whether Holders should tender any Notes in response to the Offers. Holders must make their own decision as to whether to tender any of their Notes and, if so, the principal amounts of Notes to tender. This press release is for informational purposes only and is not an offer to purchase or sell or a solicitation of an offer to purchase or sell with respect to any securities. Neither this press release nor the Offer to Purchase, or the electronic transmission thereof, constitutes an offer to purchase or sell or a solicitation of an offer to purchase or sell with respect to any securities, as applicable, in any jurisdiction in which, or to or from any person to or from whom, it is unlawful to make such offer or solicitation under applicable securities laws or otherwise. The distribution of this press release in certain jurisdictions may be restricted by law. In those jurisdictions where the securities, blue sky or other laws require the Offers to be made by a licensed broker or dealer and the Dealer Managers or any of their respective affiliates is such a licensed broker or dealer in any such jurisdiction, the Offers shall be deemed to be made by the Dealer Managers or such affiliate, as the case may be, on behalf of the Company in such jurisdiction. THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014. This announcement is released by the Offeror and may contain inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 ('MAR'), encompassing information relating to the Notes. For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/155, this announcement is made by the directors of the Offeror. 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 141 airlines in 60 countries, Avolon has an owned, managed, and committed fleet of 1,096 aircraft, as of 31 March 2025. 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. Forward-looking statements may and often do differ materially from actual results. No assurance can be given that such future results will be achieved. 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.
Business Wire
03-06-2025
- Business
- Business Wire
Avolon Announces Early Tender Results and Upsize of Debt Tender Offers
DUBLIN--(BUSINESS WIRE)--Avolon Holdings Limited ('Avolon' or the 'Company'), a leading global aviation finance company, announced today the early results of the previously announced offers to purchase for cash commenced by Avolon Holdings Funding Limited, a Cayman Islands exempted company and a direct wholly-owned subsidiary of Avolon ('Avolon Holdings Funding' or the 'Offeror' and, together with the Company and its consolidated subsidiaries, 'we,' 'our' or 'us'), for the notes issued by the Offeror listed in the following table (the 'Notes') (i) in accordance with, and in the order of, the corresponding Acceptance Priority Levels (as defined below) and (ii) subject to the Maximum Tender Cap (as defined below) and possible pro rata allocation, upon the terms and subject to the conditions set forth in the Offer to Purchase (as defined below), and our election, with respect to the Notes validly tendered and not validly withdrawn at or prior to the Early Tender Deadline (as defined below), to make payment for such Notes on June 5, 2025 (the 'Early Settlement Date'). The Offeror has increased the aggregate purchase price (excluding Accrued Interest (as defined below)) of the Notes that it intends to purchase in the offers from the previously announced amount of $800,000,000 to $1,200,000,000 (as so amended, the 'Maximum Tender Cap'). The other terms of the previously announced offers to purchase the Notes remain unchanged. The offers to purchase with respect to each series (each, a 'Series') of Notes are referred to herein as the 'Offers' and each, an 'Offer.' Each Offer is made upon the terms and subject to the conditions set forth in the offer to purchase, dated May 19, 2025 (as may be amended or supplemented from time to time, including pursuant to this press release, the 'Offer to Purchase'). Capitalized terms used but not defined in this press release have the meanings given to them in the Offer to Purchase. The Withdrawal Deadline of 5:00 P.M., New York City time, on June 2, 2025 has passed and accordingly, Notes validly tendered pursuant to the Offers may no longer be withdrawn, except in the limited circumstances described in the Offer to Purchase. As of 5:00 P.M., New York City time, on June 2, 2025 (the 'Early Tender Deadline'), as reported by Global Bondholder Services Corporation, the Tender Agent and Information Agent (each as defined below) for the Offers, approximately $1,781,637,000 aggregate principal amount of the Notes were validly tendered and not validly withdrawn. The table below identifies the principal amount of each Series of Notes validly tendered and not validly withdrawn as of the Early Tender Deadline. * Admitted to trading on the Irish Stock Exchange plc, trading as Euronext Dublin ('Euronext Dublin'). All documentation relating to the Offers, including the Offer to Purchase, together with any updates, are available from the Information Agent and the Tender Agent, as set forth below. The Offer to Purchase can also be accessed at the following website: The Offer to Purchase sets forth a complete description of the terms and conditions of the Offers. Holders of the Notes ('Holders') are urged to read the Offer to Purchase carefully before making any decision with respect to the Offers. The Offers will expire at 5:00 P.M., New York City time, on June 17, 2025 (as the same may be extended with respect to any Offer, the 'Expiration Date'). The applicable Total Consideration for each $1,000 in principal amount of the Notes validly tendered and not validly withdrawn before the Early Tender Deadline and accepted for purchase pursuant to the Offers will be determined by reference to a fixed spread specified for each Series of Notes over the yield based on the bid price of the applicable Reference Security, as fully described in the Offer to Purchase. The consideration will be calculated by the Dealer Managers (as defined below) at 9:00 A.M., New York City time, on June 3, 2025. In addition to the applicable Total Consideration, accrued and unpaid interest from the last interest payment date up to, but not including, the applicable Settlement Date will be paid in cash on all validly tendered Notes accepted for purchase in the Offers (the 'Accrued Interest'). The Total Consideration, plus Accrued Interest, for Notes that are validly tendered and not validly withdrawn at or prior to the Early Tender Deadline and accepted for purchase will be paid by us in same-day funds on the Early Settlement Date. Our obligation to accept for purchase, and to pay for, Notes that are validly tendered and not validly withdrawn pursuant to each Offer, up to the Maximum Tender Cap, is conditioned on the satisfaction or waiver by us of a number of conditions set forth in the Offer to Purchase, in each case unless waived by us as provided in the Offer to Purchase. The amounts of each Series of Notes that are accepted for purchase in each Offer will be determined in accordance with the priorities identified in the column 'Acceptance Priority Level' in the table above (each, an 'Acceptance Priority Level' and, collectively, the 'Acceptance Priority Levels'). Subject to the Maximum Tender Cap, all Notes validly tendered and not validly withdrawn at or prior to the Early Tender Deadline having a higher Acceptance Priority Level will be accepted for purchase before any validly tendered and not validly withdrawn Notes having a lower Acceptance Priority Level are accepted for purchase pursuant to the Offers, and all Notes validly tendered and not validly withdrawn after the Early Tender Deadline and at or prior to the Expiration Date having a higher Acceptance Priority Level will be accepted for purchase before any Notes validly tendered and not validly withdrawn after the Early Tender Deadline and at or prior to the Expiration Date having a lower Acceptance Priority Level are accepted for purchase pursuant to the Offers. However, any Notes validly tendered and not validly withdrawn at or prior to the Early Tender Deadline will, subject to the Maximum Tender Cap, be accepted for purchase in priority to Notes validly tendered and not validly withdrawn after the Early Tender Deadline and at or prior to the Expiration Date even if the Notes validly tendered and not validly withdrawn after the Early Tender Deadline and at or prior to the Expiration Date have a higher Acceptance Priority Level than the Notes validly tendered and not validly withdrawn at or prior to the Early Tender Deadline. Notes of the Series in each Acceptance Priority Level accepted for purchase in accordance with the terms and conditions of the Offers may be subject to proration such that we will only accept for purchase Notes with an aggregate purchase price up to the Maximum Tender Cap. We expressly continue to reserve the right, in our sole discretion, to further amend, extend or, upon failure of any condition described in the Offer to Purchase to be satisfied or waived, to terminate any of the Offers, including the right to further amend or eliminate the Maximum Tender Cap, at any time at or prior to the Expiration Date. Deutsche Bank Securities Inc. and Lloyds Securities Inc. are serving as the Lead Dealer Managers, and Huntington Securities, Inc., ING Financial Markets LLC, KeyBanc Capital Markets Inc. and NatWest Markets Securities Inc. are serving as Co-Dealer Managers, in connection with the Offers (collectively, the 'Dealer Managers'). Questions regarding terms and conditions of the Offers should be directed to Deutsche Bank Securities Inc. by calling toll free at 866-627-0391 or to Lloyds Securities Inc. by calling collect at +1 212-827-3145 Global Bondholder Services Corporation has been appointed as information agent (the 'Information Agent') and tender agent (the 'Tender Agent') in connection with the Offers. Questions or requests for assistance in connection with the Offers or the delivery of tender instructions, or for additional copies of the Offer to Purchase, may be directed to Global Bondholder Services Corporation by calling collect at 212-430-3774 (for banks and brokers) or toll free at 855-654-2014 (for all others) or via e-mail at contact@ You may also contact your broker, dealer, commercial bank, trust company or other nominee for assistance concerning the Offers. The Offer to Purchase can also be accessed at the following website: None of Avolon Holdings Funding, the Company, the Dealer Managers, Global Bondholder Services Corporation, the trustee under the indenture governing the Notes or any of their respective affiliates is making any recommendation as to whether Holders should tender any Notes in response to the Offers. Holders must make their own decision as to whether to tender any of their Notes and, if so, the principal amounts of Notes to tender. This press release is for informational purposes only and is not an offer to purchase or sell or a solicitation of an offer to purchase or sell with respect to any securities. Neither this press release nor the Offer to Purchase, or the electronic transmission thereof, constitutes an offer to purchase or sell or a solicitation of an offer to purchase or sell with respect to any securities, as applicable, in any jurisdiction in which, or to or from any person to or from whom, it is unlawful to make such offer or solicitation under applicable securities laws or otherwise. The distribution of this press release in certain jurisdictions may be restricted by law. In those jurisdictions where the securities, blue sky or other laws require the Offers to be made by a licensed broker or dealer and the Dealer Managers or any of their respective affiliates is such a licensed broker or dealer in any such jurisdiction, the Offers shall be deemed to be made by the Dealer Managers or such affiliate, as the case may be, on behalf of the Company in such jurisdiction. THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014. This announcement is released by the Offeror and may contain inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 ('MAR'), encompassing information relating to the Notes. For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/155, this announcement is made by the directors of the Offeror. 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 141 airlines in 60 countries, Avolon has an owned, managed, and committed fleet of 1,096 aircraft, as of 31 March 2025. 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. Forward-looking statements may and often do differ materially from actual results. No assurance can be given that such future results will be achieved. 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.
