AviLease, the rapidly expanding global aircraft lessor fully owned by PIF, announced today that it has successfully raised USD1.1 billion in its first financing, with an internationally funded, and highly oversubscribed offer. The unsecured term facility has a duration of five years and will be used for general corporate purposes, including the acquisition of more aircraft to add to the company’s leasing portfolio.
The financing is structured in two parts, a conventional funding tranche of USD850 million and a sharia compliant tranche, shortly to be signed, of USD250 million. The request for financing generated huge interest across the local, regional and international markets, and was 3.3 times oversubscribed.
AviLease Chief Executive Officer, Mr Edward O’Byrne, said: “We are very pleased to announce the successful closing of our debut USD1.1 billion unsecured term financing facility, supported by a syndicate of banking partners locally, regionally and across the world. We thank the lenders for their support and long-term confidence in AviLease. The quality and breadth of demand for the debut funding far exceeded our expectations, and we are thankful to our banking partners and advisors for their support in achieving this outcome.
“It is crucial for us to work with a wide variety of international financial partners with strong balance sheets, who can provide incremental funding to support our growth objectives,” he added.
The company plans to expand its fleet to about 300 aircraft by 2030, as it aims to become one of the world’s top aircraft leasing companies and has acquired or committed to the acquisition of 45 aircraft by end of 2023, with a USD 2.4 billion book value.
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