Conyers provided Bermuda law advice to Avolon Holdings Limited (“Avolon”), the international aircraft leasing company, in connection with a private offering (the “Offering”) by its wholly owned subsidiary, Avolon Holdings Funding Limited, for a principal aggregate amount of US$1 billion of 4.25% senior unsecured notes due 2026 (the “Notes”). The Notes are fully and unconditionally guaranteed by Avolon, and by certain of its subsidiaries. The Offering closed on 23 November 2020.
Avolon used the net proceeds from the Offering to fund the previously announced cash tender offers that included three outstanding series of notes from subsidiaries Avolon Holdings Funding Limited and Park Aerospace Holdings Limited.
Director Jason Piney and Counsel Angela Atherden of Conyers’ Bermuda office advised on this matter, working alongside Weil, Gotshal & Manges LLP.