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CDB Aviation Signs Facility Agreement for $530 Million Unsecured Syndicated Term Loan

DUBLIN--(BUSINESS WIRE)--#BNPParibas--CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited (“CDB Leasing”), announced today the signing of a US$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 company’s financing sources at a competitive cost of funds, while boosting our increasingly strong liquidity position,” commented Brendan O’Neill, CDB Aviation’s Chief Financial Officer. “We thank our banking partners for placing their trust in our platform and supporting our strategic direction.”

The facility was led by BNP Paribas as agent with funding from such leading aviation lenders as: BNP Paribas, acting through its Singapore branch, MUFG Bank, Ltd., as the mandated lead arrangers and bookrunners; Bank of Communications Hong Kong Branch; China CITIC Bank London Branch; The Hongkong and Shanghai Banking Corporation Limited; and Agricultural Bank of China, acting through its New York branch. The proceeds will fund new capital expenditure, debt refinancing, general corporate, and working capital.

“Our capital raising campaigns continue to attract increasingly strong interest from a diverse lender base from across the world,” underlined Patrick Hannigan, CDB Aviation’s Chief Executive Officer. “The successful outcome of these initiatives is a testament to our team’s exceptional ability to manage all commercial, legal, and finance aspects of such complex transactions.”

Forward-Looking Statements

This press release contains certain forward-looking statements, beliefs or opinions, including with respect to CDB Aviation’s business, financial condition, results of operations or plans. CDB Aviation cautions readers that no forward-looking statement is a guarantee of future performance and that actual results or other financial condition 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 only to historical or current facts. Forward-looking statements sometimes use words such as “may”, “will”, “seek”, “continue”, “aim”, “anticipate”, “target”, “projected”, “expect”, “estimate”, “intend”, “plan”, “goal”, “believe”, “achieve” or other terminology or words of 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 upon forward-looking statements as a prediction of actual results and we do not assume any responsibility for the accuracy or completeness of any of these forward-looking statements. Except as required by applicable law, we do not undertake any obligation to, 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 that is backed mainly by the China Development Bank. CDB Aviation is rated Investment Grade by Moody’s (A2), S&P Global (A), and Fitch (A+). China Development Bank is under the direct jurisdiction of the State Council of China and is the world’s largest development finance institution. It is also the largest Chinese bank for foreign investment and financing cooperation, long-term lending and bond issuance, enjoying Chinese sovereign credit rating.

CDB Leasing is the only leasing arm of the China Development Bank and a leading company in China’s leasing industry that has been engaged in aircraft, infrastructure, ship, commercial vehicle and construction machinery leasing and enjoys a Chinese sovereign credit rating. It took an important step in July 2016 to globalize and marketize its business – listing on the Hong Kong Stock Exchange (HKEX STOCK CODE: 1606). www.CDBAviation.aero


Media contact: Paul Thibeau

[email protected]; +1 612 594 9844

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