CDB Aviation seals secured portfolio financing deal worth $492 million
December 12, 2017: CDB Aviation Lease Finance, the wholly owned Irish subsidiary of China Development Bank Financial Leasing Company has secured portfolio financing facility worth $492 million, which will cover 14 recent Airbus and Boeing narrowbody aircraft on lease to five lessees. The lease facility was extended to CDB Aviation’s wholly-owned subsidiary CDB Aviation Funding […]
December 12, 2017: CDB Aviation Lease Finance, the wholly owned Irish subsidiary of China Development Bank Financial Leasing Company has secured portfolio financing facility worth $492 million, which will cover 14 recent Airbus and Boeing narrowbody aircraft on lease to five lessees.
The lease facility was extended to CDB Aviation’s wholly-owned subsidiary CDB Aviation Funding Limited, where CDB Aviation is a lease servicer.
“This lease facility is an important transaction for CDB Aviation, allowing us to advance our objective of diversifying the company’s sources of financing and to deepen our relationships with a number of our banking partners,” said Will Gramolt, CHO of CDB Aviation.
The five-year lease facility is provided by a group of five banks, comprising Citi, Crédit Agricole Corporate and Investment Bank, National Australia Bank Limited, Natixis and Westpac Banking Corporation— each acting as mandated lead arranger.
Said Gramolt, “We appreciate the strong support from the participating banks, which allowed us to conclude a facility that is a competitive supplement to CDB Aviation’s unsecured financing.”
According to reports, the facility agent is Crédit Agricole Corporate and Investment Bank and the Security Trustee is Bank of Utah. Allen
