Avolon Holdings, the world's tenth largest aircraft leasing company with a portfolio of 202 aircraft, filed on Monday with the SEC to raise up to $100 million in an initial public offering, although the deal size is likely a placeholder. We estimate it could raise up to $300 million for selling shareholders, whose shares make up the entire offering.
The Dublin, Ireland-based company was founded in 2010 when it completed an initial capital raise of $1.4 billion, including $615 million in debt and $750 million from private equity firms Cinven, CVC Capital Partners and Oak Hill Capital Partners. Avolon booked $481 million in sales for the 12 months ended March 31, 2014 and plans to list under the symbol AVOL. J.P. Morgan, Morgan Stanley and Citi are the joint bookrunners on the deal. No pricing terms were disclosed and no exchange was listed.
