CDB Aviation Closes $700 Million Secured Portfolio Financing

CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited (“CDB Leasing”), announced today that the company successfully closed a secured portfolio financing facility for $700 million, covering a fleet of 19 Airbus and Boeing aircraft.

“Diversifying financing sources at a competitive cost of capital is a key objective for CDB Aviation, and we appreciate the strong support from our banking partners in concluding this transaction,” said CDB Aviation Chief Financial Officer Will Gramolt.

The seven-year facility is provided by a group of eight banks, consisting of: BNP Paribas, Crédit Agricole Corporate & Investment Bank, ING Bank, National Australia Bank, Natixis, Société Générale, Sumitomo Mitsui Trust Bank, and Westpac Banking Corporation, each acting as Mandated Lead Arranger.

“We are very pleased to welcome both existing and new lenders to this facility, all of whom are major international aviation lenders. We look forward to building long-term relationships with them,” added Gramolt.

Crédit Agricole Corporate & Investment Bank is acting as Facility Agent. The Security Trustee is Bank of Utah. Allen & Overy acted as counsel for the Mandated Lead Arrangers. Clifford Chance represented CDB Aviation.

About CDB Aviation

CDB Aviation is a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited (“CDB Leasing”) a 34- year-old Chinese leasing company that is backed mainly by the China Development Bank. 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