Azorra Strengthens Capital Structure with New US$400 Million Eight‑Year Unsecured Senior Notes and US$637.8 Million Term Loan B Upsize

Fort Lauderdale, Florida, USA

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Azorra Aviation Holdings, LLC (“Azorra”), today announced the completion of a new US$400 million eight‑year senior unsecured notes offering (“Notes”) and the successful repricing and upsizing of its senior secured Term Loan B (“TLB”) facility. Collectively, these transactions strengthen the company’s balance sheet, provide greater financial and operating flexibility, lower its funding costs, and complement the company’s debt maturity profile.

Unsecured Notes

Azorra Finance Limited, a wholly owned subsidiary of Azorra, issued US$400 million of 6.25% senior unsecured notes due 2034. The Notes attracted strong interest from both existing and new investors, resulting in robust demand from a high‑quality investor base. The Notes are rated “BB-” by both Fitch Ratings, and S&P Global Ratings and “B1” by Moody’s Ratings.

Term Loan

The TLB was repriced at three‑month SOFR plus 2.50%, a 100 basis point improvement relative to its initial pricing in October 2024 and 25 basis points improvement from the company’s repricing in July 2025. Simultaneously, the TLB was upsized by US$100 million to US$637.8 million, reflecting continuing strong lender support and confidence in Azorra’s credit performance and long‑term strategy.  The TLB is now secured by a portfolio of 34 aircraft and five engines. 

The proceeds from both financings will be primarily used to repay certain existing debt and for general corporate purposes, including the acquisition of aircraft and engines.

John Evans, Chief Executive Officer, Azorra, said: “We appreciate the continued confidence and meaningful support from our investors. Azorra remains committed to generating long‑term value and executing on strategic opportunities to advance the company’s growth. The positive outcome of these transactions represents a clear vote of confidence from the capital markets in both our business and our strategic direction.”

Alan Stanford, Chief Financial Officer, commented: “These debt issuances further enhance our financial and operational flexibility, allowing us to act decisively on market opportunities while preserving a resilient, efficient capital structure.”

Claudia Ziemer, SVP Finance, added: “The strong reception for these financings in a challenging market highlights the depth of our investor and lender relationships and the confidence they continue to place in Azorra. Support from the debt investor community underscores the strength of our financial strategy and portfolio.”

Citibank, N.A. served as lead structuring agent and Citibank and Deutsche Bank acted as joint lead bookrunners.  Bank of America, BNP Paribas, Natixis, Fifth Third Bank N.A, MUFG Bank, PNC Bank N.A., Royal Bank of Canada Ltd, SMBC, Siebert Williams for BayernLB, and Société Générale also acted as joint bookrunners on the transactions.

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Forward Looking Statements

This press release may contain forward-looking statements that involve substantial risks and uncertainties. You can identify these statements by the use of forward-looking terminology such as “may,” “will,” “should,” “expect,” “anticipate,” “project,” “estimate,” “intend,” “continue” or “believe” or the negatives thereof or other variations thereon or comparable terminology. You should read statements that contain these words carefully because they discuss our plans, strategies, prospects and expectations concerning our business, operating results, financial condition and other similar matters. We believe that it is important to communicate our future expectations to our investors. There may be events in the future, however, that we are not able to predict accurately or control. We do not represent or warrant that such forward-looking statements will be achieved or prove to be correct.  Any forward-looking statement made by us in this press release speaks only as of the date on which we make it. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

No Offer or Solicitation

The Notes and related guarantees have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of any jurisdiction and may be offered or sold only in a transaction exempt from, or not subject to, the registration requirements of the Securities Act. The Notes were offered and sold only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act and outside the United States to non-U.S. persons in offshore transactions in reliance on Regulation S under the Securities Act.

This press release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy the Notes, nor shall there be any sale of the Notes in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offer of the Notes will be made only by means of a private offering memorandum.

This announcement is for information purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities. The securities described herein have not been, and will not be, registered under the securities laws of any jurisdiction where such registration would be required.

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ABOUT AZORRA

Azorra is a relationship-driven aircraft lessor that provides leasing, financing, fleet transition and asset management solutions to aircraft investors, financiers and airline operators worldwide. Azorra’s multi-cultural team reflects the global markets that we serve and includes core competencies in aviation law, aircraft finance, maintenance, marketing, sales and leasing. 

Our team is led by seasoned veterans having a shared history of success and is complemented with young professionals who bring fresh perspective, ideas and enthusiasm. Azorra currently owns and manages a fleet of more than 190 aircraft and engines. Including commitments and orders for new Airbus A220-100/300 aircraft and Embraer E190/195-E2 aircraft, Azorra’s total fleet exceeds 290 assets. The company is headquartered in Fort Lauderdale, Florida, and has an office in Dublin, Ireland.