BOC Aviation has obtained a $500 million 5-year unsecured syndicated term loan facility, the largest such loan closed by BOC Aviation. The proceeds will be used for general corporate purposes, a company release said.
Phang Thim Fatt, Chief Financial Officer and Deputy Managing Director of BOC Aviation, said: “Our success in closing the Company’s largest ever syndicated loan facility with 13 financial institutions demonstrates our proven ability to continually diversify into new sources of capital to fund the growth of BOC Aviation.”
The Mandated Lead Arrangers and Bookrunners of the $500 million loan are the Australia and New Zealand Banking Group Limited, Commonwealth Bank of Australia, DBS Bank Ltd., and Westpac Banking Corporation.
Owned by the Bank of China, BOC Aviation is a global aircraft lessor which has a portfolio of 253 owned and managed aircraft operated by 59 airlines worldwide in 29 countries. As of September this year, it had signed up for commitments to acquire 203 more aircraft.