Avolon 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 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. The 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.
“This $750 million facility further diversifies our access to capital and forges new banking relationships in the Middle East and India,” said Ross O’Connor, Avolon CFO. “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.”
“We’re pleased to partner with Avolon on this transaction, using the strength of our franchise to support their growth,” said Puja Turner, Head of CEEMEA Loans & Structured Credit at JP Morgan. “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.”
“As aviation continues to be a vital driver of economic expansion, we foresee significant opportunities for the sector in the coming years,” said Aamir Mansoor, Head of GRE and Aviation Desk at Emirates NBD. “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.”
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