CDB Aviation Executes $660 Million Portfolio Financing Backed by 13 Airbus and Boeing Aircraft

CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd. (“CDB Leasing”), announced today the company has entered into a facility agreement for the secured portfolio of thirteen Airbus and Boeing aircraft, valued at approximately US$660 million. The transaction brings the lessor’s executed financings year-to-date to a total of US$2.53 billion.

The first large-sized portfolio financing executed by the lessor since the onset of the COVID-19 pandemic is secured with a combination of Airbus A320-200 and A350-900 as well as Boeing 737 MAX 8 and 787-9 Dreamliner aircraft.

“Diversifying financing sources at a competitive cost of capital is one of our key objectives,” underscored CDB Aviation Chief Financial Officer Brendan O'Neill, noting that the transaction demonstrates the strong and wide-ranging relationships the company has built over the years with members of the banking and capital markets communities.

The facility is provided by a group of leading MLA banks, consisting of: Natixis, MUFG Bank Ltd., Crédit Agricole Corporate and Investment Bank, BNP Paribas, Nord/LB, Société Générale, and The Hongkong and Shanghai Banking Corporation Limited. Crédit Agricole Corporate and Investment Bank acted as Facility Agent and Security Trustee, and Natixis and MUFG Bank Ltd. jointly coordinated the transaction.

“We are very pleased to welcome our existing lenders and counterparties to this new facility, all of whom are major international aviation lenders, and look forward to continuing to build long-term relationships with them. We also appreciate the strong support from our shareholder in concluding this transaction,” added O'Neill.

Patrick Hannigan, CDB Aviation Chief Executive Officer, pointed out that “our continued significant momentum, notwithstanding the toughest market the aircraft leasing industry has ever experienced, speaks to the strength of our integrated platform and our team’s foremost ability to execute.”

Coupled with the scale, market reach, and strong origination and structuring expertise, CDB Aviation is well positioned to help airlines and lessors address their most pressing challenges triggered by the pandemic.

Hannigan concluded: “The lenders’ recognition of our platform’s core strengths is the direct result of collaborative efforts of our entire team, with their unfaltering commitment to our long-term vision and continued hard work in all aspects of our operations – all with the goal of supporting airline customers in navigating this pandemic-effected market environment.”

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 meaning. These statements are based on the current beliefs and expectations of CDB Aviation’s management and are subject to significant risks and uncertainties. Actual results and outcomes may differ materially from those expressed in the forward-looking statements. 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., Ltd. (“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).