Avolon, a leading global aviation finance company, announced the extension and upsizing of its unsecured revolving credit facility, supported by a syndicate of 25 banks. The facility’s maturity date has been extended by two and a half years from April 2026 to October 2028, and upsized by US$1 billion to US$5.8 billion over the course of 2024.

This transaction brings to US$12 billion the total capital raised by Avolon year to date, of which 75% was raised from unsecured sources.

Ross O’Connor, Avolon CFO, commented: “The strong support from our banking partners for this transaction reflects the strength of Avolon’s franchise and positive financial performance trajectory. The facility maintains Avolon’s high levels of liquidity, providing us with further flexibility and a cost-efficient component of our funding strategy. Increasing the proportion of unsecured debt in our capital structure will provide further momentum towards achieving our goal of higher credit ratings.”