€620m loan arrangement boost to Irish lessor Avolon

Dublin-headquartered aircraft leasing company Avolon has secured a long-term loan arrangement that will finance up to 21 aircraft in the coming years.

The international lessor yesterday announced the completion of a (€623.5m) $675m eight-year debt facility financed by six banks based in Europe and the Asia-Pacific region. Avolon chief financial officer, Andy Cronin said the deal is a good fit for the company and its existing strategy of using low-cost, long-term debt to finance its operations.

“The closing of our single largest debt transaction, at a margin of 1.65%, is a milestone for the business and reflects the strength of our credit profile and strong demand from the bank market.