Avolon completes repayment of USD 407m in securitisation debt

Ireland-based aircraft leasing company Avolon has announced it has completed the repayment by Emerald Aviation Finance Ltd. of the USD 407 million of outstanding Class A-1 fixed rate asset backed notes and Class B-1 fixed rate asset backed notes associated with its aircraft securitisation, the company said.

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.

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.