ORIX acquires 30% stake in Avolon

Stake has an enterprise value of  US$23.7 billion

Avolon, the international aircraft leasing company, announced that ORIX Corporation, through its wholly owned subsidiary ORIX Aviation Systems, has completed the acquisition of a 30% stake in Avolon from Bohai Capital for US$2.2 billion, based on a 31 March 2018 NAV.

The addition of ORIX, an investment grade institution, diversifies and strengthens the financial profile of Avolon’s shareholder base and facilitates positive credit rating momentum. Additionally, the new governance structure enhances protections for minority shareholder and debt investors.

Avolon recently opened a new headquarters in Dublin and announced the pricing of a private offering by its wholly owned subsidiary, Avolon Holdings Funding Limited, of US$1.0 billion aggregate principal amount of 5.125% Senior Notes due 2023 at par.