DUBLIN–(BUSINESS WIRE)–Avolon, the international aircraft leasing company, announces the repayment by Emerald Aviation Finance Ltd. (“Emerald”) of the outstanding US$407 million of its Class A-1 Fixed Rate Asset Backed Notes and Class B-1 Fixed Rate Asset Backed Notes (the “Notes”) associated with its aircraft securitisation. Following repayment, the Notes will be de-listed from Euronext Dublin (formerly the Irish Stock Exchange). Launched in 2013, Emerald was Avolon’s inaugural aircraft securitisation.
The repayment of the Emerald securitisation forms part of Avolon’s commitment to continue to reduce the level of secured debt within its capital structure.
Headquartered in Ireland, with offices in the United States, Dubai, Singapore, Hong Kong and Shanghai, Avolon provides aircraft leasing and lease management services. Avolon is 70% owned by an indirect subsidiary of Bohai Leasing Co., Ltd., a Chinese public company listed on the Shenzhen Stock Exchange (SLE: 000415), and 30% owned by ORIX Aviation Systems, a subsidiary of ORIX Corporation, which is listed on the Tokyo and New York Stock Exchanges (TSE: 8591; NYSE: IX). Avolon is the world’s third largest aircraft leasing business with an owned, managed and committed fleet, as of 30 September 2018, of 890 aircraft.