May 2018
Conyers provided Bermuda law advice to Avolon Holdings Limited (“Avolon”), the international aircraft leasing company, in connection with the re-pricing and extension of its senior secured US$4.75 billion Term Loan B facility on 9 May 2018. The facility has now been extended from an original maturity of April 2022 to January 2025 and has been repriced at LIBOR plus 2.00% with a LIBOR floor of 0.75%, subject to an Original Issue Discount of 99.75. In conjunction with this repricing, Avolon repaid US$214 million of the original facility, bringing the outstanding balance to US$4.75 billion.
Director Jason Piney and Associate Angela Atherden of Conyers’ Bermuda office advised on this matter, working alongside Weil, Gotshal & Manges LLP.