DUBLIN--(BUSINESS WIRE)--Avolon, the international aircraft leasing company, announces that ORIX Corporation (“ORIX”), 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.
ENDS
About ORIX Corporation
ORIX Corporation (TSE: 8591; NYSE: IX) is an opportunistic, diversified, innovation-driven global powerhouse with a proven track record of profitability. Established in 1964, ORIX at present operates a diverse portfolio of businesses in the operations, financial services, and investment spaces. ORIX’s highly complementary business activities span industries including: energy, private equity, infrastructure, automotive, ship and aircraft, real estate and retail financial services. ORIX has also spread its business globally by establishing locations in a total of 38 countries and regions across the world. Through its business activities, ORIX has long been committed to corporate citizenship and environmental sustainability. (As of September 30, 2018).
About ORIX Aviation
ORIX Aviation was established in 1991 in Dublin, Ireland and is a 100% subsidiary of ORIX Corporation of Japan. ORIX Aviation owns and manages over 200 aircraft and leases them to more than 70 airlines located in over 30 countries. ORIX Aviation is headquartered in Dublin with offices in Hong Kong and a team of 85 professionals with US$10 billion of aircraft assets under management. For the 12 months to 31 March 2018, ORIX Aviation has bought, sold or leased over 100 aircraft valued in excess of US$4 billion.
ORIX Aviation is focused primarily on investing and trading opportunities in the aircraft leasing and aircraft asset management space while maintaining a strong balance sheet of owned assets to support stable long term profits and future growth. ORIX Aviation is ranked by S&P Global Ratings as “Strong” as a commercial aircraft lease servicer. The outlook is stable.
The asset management clients of ORIX Aviation are investors based in Japan, US funds and international banks and financial investors.
About Avolon
Headquartered in Ireland, with offices in the United States, Dubai, Singapore, Hong Kong and Shanghai, Avolon provides aircraft leasing and lease management services. Avolon is 70% owned by an indirect subsidiary of Bohai Capital Holding Co. Ltd., a Chinese public company listed on the Shenzhen Stock Exchange (SLE: 000415), and 30% owned by ORIX Aviation Systems, a subsidiary of ORIX Corporation, which is listed on the Tokyo and New York Stock Exchanges (TSE: 8591; NYSE: IX). Avolon is the world’s third largest aircraft leasing business with an owned, managed and committed fleet, as of 30 September 2018, of 890 aircraft.
Avolon’s financial and legal advisors for the Transaction were Morgan Stanley & Co. LLC and Weil, Gotshal & Manges LLP respectively.
Website: www.avolon.aero
Twitter:
@avolon_aero