Avolon has priced a $500 million unsecured bond at 5.5% with a private placement today.
The notes, which come due in 2023, are rated Ba3, BB and BB by Moody's Ratings, S&P Global and Fitch Ratings, respectively.
The proceeds of the transaction will be used for general corporate purposes, including debt repayment, an S&P Global Ratings report states.
"Our rating affirmation on Avolon Holdings reflects our continued assessment that it is an insulated subsidiary of Bohai Capital Holding," adds S&P.
Barclays, BNP Paribas, Credit Agricole, JP Morgan, Morgan Stanley, SunTrust Robinson Humphrey and UBS are joint lead managers and bookrunners. Fifth Third Securities is co-manager.
The deal is expected to close on 12 March.
Source: Cirium Dashboard