BOC Aviation has signed unsecured syndicated credit facilities amounting to US$935 million. It comprises of a US$500 million revolving credit facility and a US$435 million term loan facility, both with a tenor of five years.

Bank of Communications, BNP Paribas, Citigroup Global Markets Singapore, DBS Bank, HSBC, MUFG Bank, Oversea-Chinese Banking Corporation Limited and United Overseas Bank Limited acted as original mandated lead arrangers and bookrunners (OMLABs). Participating in the facilities are 16 financial institutions, including the OMLABs.

Following a strong response from lenders, the facilities were increased to a combined final size of US$935 million from an initial launch amount of US$750 million.

“We are very pleased to have completed this flexible financing package with some of our leading banking partners,” says Steven Townend, deputy managing director and chief financial officer of BOC Aviation. “The interest in this facility has confirmed for us the continuing support of the loan markets for BOC Aviation, and complements the liquidity that is available to us in the debt capital markets.”

BOC Aviation, majority-owned by Bank of China, has a fleet of 536 aircraft owned, managed and on order. As of June 30 2021, its owned and managed fleet was leased to 87 airlines worldwide in 38 countries and regions.

BOC Aviation is listed on the Hong Kong Stock Exchange and headquartered in Singapore, with offices in Dublin, London, New York and Tianjin.