Societe Generale has provided an additional $150 million to a Deustche Bank-led syndicated revolver for Avolon, taking the total available credit of that facility to $1.59 billion.
SocGen signed onto the facility on 31 August, joining Fifth-Third Bank, Morgan Stanley and Deutsche. The latter bank established the revolver in December 2016 with an initial funding of $950 million.
A stock exchange statement from Avolon’s parent, Bohai Capital, shows that the lessor is the guarantor of the facility, which will be used for the “smooth development” of its business.
The additional debt funding comes amid a busy time for Avolon.
In August, Orix Aviation announced a deal to take a 30% stake in Avolon. The Dublin-based lessor also recently launched its Jade Aircraft Leasing sidecar, in association with Chinese insurance group Cinda.
Source: Cirium Dashboard