DUBLIN–(BUSINESS WIRE)–May 10, 2022–
CDB Aviation, a wholly-owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited (“CDB Leasing”), today announced that it has signed a $530 million unsecured syndicated term loan with BNP Paribas and a group of leading global financial institutions.
“This credit facility marks another important step in diversifying our business funding sources at a competitive cost of funds, while strengthening our increasingly strong liquidity position,” commented Brendan O’Neill, Chief Financial Officer. of CBD Aviation. “We thank our banking partners for their trust in our platform and for supporting our strategic direction.”
The facility was led by BNP Paribas as agent with funding from major aviation lenders such as: BNP Paribas, acting through its Singapore branch, MUFG Bank, Ltd., as lead arrangers and mandated bookkeepers; Branch of Bank of Communications in Hong Kong; Branch of China CITIC Bank in London; The Hongkong and Shanghai Banking Corporation Limited; and Agricultural Bank of China, acting through its New York branch. Proceeds will fund new capital expenditures, debt refinancing, general contracting and working capital.
“Our fundraising campaigns continue to attract growing interest from a diverse base of lenders around the world,” said Patrick Hannigan, CEO of CDB Aviation. “The success of these initiatives is testament to our team’s exceptional ability to manage all commercial, legal and financial aspects of such complex transactions.
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., Limited (“CDB Leasing”), a 36-year-old Chinese leasing company which is primarily backed by 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 arm 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).www.CDBAviation.aero
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KEYWORD: IRELAND ASIA PACIFIC EUROPE CHINA HONG KONG
INDUSTRY KEYWORD: TRANSPORT BANKING AERONAUTICS MANUFACTURING TRAVEL PROFESSIONAL SERVICES OTHER TRANSPORT AIR TRANSPORT LOGISTICS/SUPPLY CHAIN MANAGEMENT FINANCE
SOURCE: CBD Aviation
Copyright BusinessWire 2022.
PUBLISHED: 05/10/2022 05:44 AM/DISC: 05/10/2022 05:44 AM
Copyright BusinessWire 2022.