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Avolon prices $1.25 billion private placement

Avolon has priced a $1.25 billion 144A private placement.

The lessor says subsidiary Park Aerospace Holdings issued $950 million of 4.5% notes due in 2023 and $300 million of 3.625% notes due in 2021. The unsecured notes are fully guaranteed by Avolon and Park Aerospace Holdings.

Barclays, Credit Agricole, Morgan Stanley and UBS are joint bookrunners, Bloomberg data indicates.

The deal, which will close on 25 September, was launched at $1 billion, according to Kroll Bond Ratings Agency, which rated the deal BBB. Moody's gave the deal a Ba3, says Bloomberg.

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