Mar 2019
Conyers provided Bermuda law advice to Avolon Holdings Limited (“Avolon”), the international aircraft leasing company in connection with a private offering of senior notes by Avolon Holdings Funding Limited, a wholly-owned subsidiary of Avolon.
The private offering which priced on 14 February 2019 and closed on 1 March 2019, comprised US$800 million aggregate principal amount of 5.25% Senior Notes due 2024, at par. Avolon has also priced a private offering by its wholly owned subsidiary, Park Aerospace Holdings Limited, of US$300 million aggregate principal amount of 5.25% senior notes maturing 2022 at an offering price of 101.375%, adding to a previous issue in January 2017 of US$1.75 billion of 5.25% notes maturing 2022. Avolon used the net proceeds from this offering for general corporate purposes, which may include the future repayment of outstanding indebtedness.
Director Jason Piney and Counsel Angela Atherden of Conyers’ Bermuda office advised on this matter, working alongside Weil, Gotshal & Manges LLP.