CDB Aviation completes $650 million secured portfolio financing

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Facility supported by 15 narrow-body and wide-body Airbus and Boeing aircraft

SINGAPORE–(BUSINESS WIRE)–CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd. (“CDB Leasing”), announced on the sidelines of the Airline Economics Growth Frontiers Asia Pacific 2022 conference that the company has entered into a US$650 million secured portfolio financing facility agreement.

The seven-year-old facility is secured by a portfolio of 15 narrowbody and widebody aircraft, including the Airbus A320/A321neo, A330-900, as well as the Boeing 737-8 and 787-9 Dreamliner.

“We continue to successfully meet CDB Aviation’s capital needs by diversifying our funding sources and broadening and deepening our relationships with banks and capital market providers,” said Brendan O’Neill, CDB Aviation’s Chief Financial Officer. . “Our ability to engage global financial institutions is a direct reflection of the strong skills and efforts of our finance team and the support of our shareholder, CDB Leasing.”

The facility is funded by a group of MLA banks, comprising Crédit Agricole Corporate and Investment Bank, Bank of Communication Co., Ltd., The Hongkong and Shanghai Banking Corporation Limited and ING Bank. Natixis acted as debt coordinator. Crédit Agricole Corporate and Investment Bank acted as Credit Agent and Security Trustee. Allen & Overy acted as legal counsel to the mandated principal arrangers, while Clifford Chance represented CDB Aviation.

Forward-looking statements

This press release contains certain forward-looking statements, beliefs or opinions, including with respect to the business, financial condition, results of operations or plans of CDB Aviation. CDB Aviation cautions readers that no forward-looking statement is a guarantee of future performance and that actual results or other financial conditions or performance measures could differ materially from those contained in the forward-looking statements. These forward-looking statements can be identified by the fact that they do not relate solely to historical or current facts. Forward-looking statements sometimes use words such as “may”, “will”, “seek”, “continue”, “aim”, “anticipate”, “target”, “project”, “expect”, “estimate ‘, ‘intend’, ‘plan’, ‘aim’, ‘believe’, ‘achieve’ or any other terminology or words with a similar or analogous meaning. These statements are based on the current beliefs and expectations of CDB Aviation’s management and are subject to significant risks and uncertainties. Accordingly, you should not rely on any forward-looking statements as a prediction of actual results and we assume no responsibility for the accuracy or completeness of any such forward-looking statements. Except as required by applicable law, we undertake no obligation to update and will not update any forward-looking statements, whether as a result of new information, future events or otherwise.

About CDB Aviation

CDB Aviation is a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd. (“CDB Leasing”), a 37-year-old Chinese leasing company primarily backed by the China Development Bank. CDB Aviation is rated Investment Grade by Moody’s (A2), S&P Global (A) and Fitch (A+). The China Development Bank is under the direct jurisdiction of the State Council of China and is the largest development finance institution in the world. It is also China’s largest bank for foreign investment and financial cooperation, long-term loans and bond issuance, enjoying a Chinese sovereign credit rating.

CDB Leasing is the sole leasing branch of China Development Bank and a leading company in the leasing industry in China which has engaged in the leasing of aircraft, infrastructure, ships, commercial vehicles and construction machinery and enjoys a Chinese sovereign credit rating. It took an important step in July 2016 to globalize and commercialize its business by listing on the Hong Kong Stock Exchange (HKEX STOCK CODE: 1606).

Paul Thibeau

[email protected]; +1 612 594 9844

Source: CBD Aviation

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