Successful bridge loan refinancing shows high confidence in AviLease operating model and growth prospects
(MENAFN- Ogilvy) Riyadh, September 02, 2024: AviLease, the rapidly expanding global aircraft lessor announced today that it has successfully raised USD2.5 billion 5-years unsecured term facility. The unsecured term facility will be used, inter alia, to fully refinance a bridge facility AviLease raised in 2023 when acquiring the Standard Chartered aircraft leasing platform.
The financing is structured in 2 parts, a conventional facility of USD1.730 billion and a Sharia’ah Compliant facility of USD770 million. AviLease received substantial interest across the local, regional and international markets, and was 2.7 times oversubscribed.
AviLease Chairman of the Board of Directors, Mr. Fahad Al-Saif, said: “The strong market response and the diverse profiles of lenders, including our existing lenders joined by new lenders, is another testament to the continuous global confidence in our business model and growth prospects. Outside the Bank Market, AviLease will continue to explore a variety of debt funding sources as it delivers on its ambitious strategic objectives which aims to contribute to the development of the aviation ecosystem in the Kingdom.”
AviLease Chief Executive Officer, Mr. Edward O'Byrne, said: “We are very pleased to announce the successful closing of this USD2.5 billion 5-year unsecured term financing facility, supported by a syndicate of banking partners across 3 continents – a token to the global confidence of banks in AviLease. We thank all our lenders for their continuous support and long-term confidence in AviLease. The quality and breadth of demand exceeded our expectations, and we are thankful to our banking partners for their support in achieving this outcome.
“It is crucial for us to call on a wide variety of global trusted financial partners with strong balance sheets, who can provide, over the years, continued funding to support our growth objectives,” he added.
The company reconfirms its plan to expand its fleet, as it aims to become one of the world's top 10 aircraft leasing companies by 2030.
Today, AviLease is a global aircraft lessor headquartered in Riyadh with offices in Dublin, Limerick, Singapore and Fort Lauderdale. AviLease has a portfolio of 180 owned and managed aircraft representing a book value of USD6.5 billion.
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