On January 20, 2017, Avolon's subsidiary, Park Aerospace Holdings, raised $3 billion in two bond issues, one for $1.75 billion at 5.25 per cent interest that falls due in 2022, rated B1e and another $1.25 billion at 5.5 per cent interest that must be repaid in 2024, rated BB-.
Loop Capital Markets served as a co-manager in a two-tranche, $3.0 billion, senior unsecured notes offering of Park Aerospace Holdings.
Park Aerospace Holdings which is wholly owned by Bohai Financial Investment Holding Company, intends to use the net proceeds of the offering for the acquisition financing of the aircraft leasing business of CIT Group, Inc.
Joint book-running managers were: Barclays, BNP Paribas, Credit Agricole CIB, JP Morgan, Morgan Stanley, UBS, SunTrust