RIYADH: AviLease, the global aircraft lessor wholly owned by Saudi Arabia’s Public Investment Fund, has priced a $650 million offering of 5.50 percent senior unsecured notes due 2031 through AviLease Capital Ltd., a directly wholly owned subsidiary of AviLease, under its Global Medium Term Note Program.
The notes will be fully and unconditionally guaranteed by AviLease and certain subsidiaries.
The notes are rated Baa2 by Moody’s and BBB by Fitch.
AviLease intends to use the net proceeds from the offering for general corporate purposes. The offering was more than 5.3 times oversubscribed, with strong demand from investors globally.
AviLease CEO Edward O’Byrne said: “This transaction is a testament to the confidence global investors have placed in AviLease. Our second bond issuance demonstrates our ability to consistently access international capital markets, reflecting the strength of our business. The proceeds will further enable us to grow our fleet as we continue our trajectory to becoming a top 10 aircraft leasing company by 2030.”
