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Irish Aircraft Leasing Newsletter 13 May

Irish Aircraft Leasing Newsletter 13 May

Avolon Successfully Reprices Senior Secured Term Loan B Facility to Libor + 1.75%

Avolon announced 9th May the successful repricing of its senior secured Term Loan B Facility , which has a maturity date of January 2025, has been repriced at LIBOR plus 1.75% with a LIBOR floor of 0.75%, subject to an Original Issue Discount (OID) of 99.875. In conjunction with this repricing, Avolon also repaid US$800 million of the Facility, bringing the current outstanding balance to $2.58 billion. Andy Cronin, Avolon Chief Financial Officer, commented: “Following our recent milestone of achieving investment grade, we have successfully repriced our Term Loan B Facility and repaid US$800 million of the Facility. In a little over two years, we have repaid nearly US$3 billion – more than half the original size of the Facility. This further reduction of secured debt in our capital structure reflects our ongoing commitment to transition towards an unsecured capital structure, which in turn will further enhance our unencumbered asset and risk profile.”

CDB Aviation Expands Asia Executive Team

CDB Aviation announced 6th May new executive appointments to its Asia team: Sign Kadouh took the position of Head of Commercial, Asia Pacific and Nick Seah assumed the role of Head of Commercial, Greater China & North Asia.

Goshawk delivers its second Airbus A350-900 to Philippine Airlines

Goshawk announced 3rd May the delivery of an Airbus A350-900 aircraft to four star carrier Philippine Airlines. This is the second delivery between Goshawk and Philippine Airlines.

KBRA Affirms Ratings for Nordic Aviation Capital Designated Activity Company

Kroll Bond Rating Agency (KBRA) announced 3rd May the issuer rating of BBB+ and the senior unsecured debt rating of BBB for Nordic Aviation Capital Designated Activity Company the largest regional aircraft lessor in the world. The Outlook for the ratings is Stable. The ratings are based on KBRA’s Global Finance Company Rating Methodology published on November 28, 2017.

NAC delivered one Embraer E190, MSN 19000048, to Helvetic Airways on lease

Nordic Aviation Capital (NAC) announced 7th May the delivery of one Embraer E190, MSN 19000048, to Helvetic Airways on lease.

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