Aircraft leasing group attracts US$750 million
from Cinven, CVC and Oak Hill Capital 
Dublin, New York, Hong Kong & Shanghai | 20 May 2010: Avolon, the aircraft leasing group, today announces it has successfully completed its initial capital raise of US$1.4 billion including an equity commitment of US$750 million from three of the world's leading private equity firms. 

The US$750 million equity commitment was subject to EU merger and takeover approval which was received on 18 May 2010. 

Highlights 

v US$1.4 billion capital raised 

v US$750 million equity capital committed equally by leading private equity firms Cinven, CVC Capital Partners ("CVC") and Oak Hill Capital Partners ("Oak Hill Capital") 

v US$400 million warehouse debt financing facility arranged by UBS (MLA) with co-arrangers Credit Agricole, Deutsche Bank and KfW Ipex-Bank - the first facility of this type to be successfully executed since 2007 

v US$215 million term debt financing facility provided by DVB Bank 

v Avolon to become a leading player in the global aircraft leasing sector 

v Avolon team has significant experience in delivering innovative sale and leaseback and financing transactions to the world's airlines 

v Avolon has executed contracts and letters of intent for the purchase of 26 aircraft. A number of other transactions are in advanced stages of discussion with airlines globally. Avolon also provides lease management services on a further 2 aircraft 

v Denis Nayden appointed Chairman of Avolon with over thirty years experience in the aircraft leasing sector 

Mr Nayden commented: 
"Avolon has successfully attracted significant equity capital to develop the business into a global leader in aircraft leasing. This successful equity raise and the support of such highly respected aviation banks reflects the strength of the team assembled, their experience in the sector and the opportunity presented by current market conditions. Cinven, CVC and Oak Hill Capital have identified Avolon as the right investment opportunity, led by the right team, entering the market at the right time."