herald

Tuesday 6 December 2016

Avolon secures €625m in loans

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Avolon, the Dublin-based aircraft leasing firm led by Domhnal Slattery, has secured a new $675m (€625m), eight-year loan. It is the single largest debt facility ever obtained by the firm.

The company's chief financial officer Andy Cronin described it as a "milestone". The money will be used to acquire up to 21 aircraft.

Avolon, which floated on the New York Stock Exchange last December, said six banks in Europe and Asia-Pacific were involved in the finance, including Bank of Ireland.

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