Avolon Holdings prices IPO at $20, below the range

Avolon Holdings, an aircraft lessor with a total portfolio of 227 mostly narrowbody aircraft, raised $273 million by offering 13.6 million shares at $20, below the range of $21 to $23. Avolon Holdings plans to list on the NYSE under the symbol AVOL. J.P. Morgan, Morgan Stanley, Citi, UBS Investment Bank and Wells Fargo Securities acted as lead managers on the deal.