everbright’s calc signs usd 840 million aircraft pdp syndicated loan overwhelming market response leads to largest aircraft pdp financing project in asia
china everbright limited (“everbright”, stock code: 165.hk)’s calc (the “group”, stock code: 1848.hk), a full value chain aircraft solutions provider, is pleased to announce that the group has signed a five-year unsecured revolving syndicated loan of usd 840 million to finance part of pre-delivery payments (“pdp”) for new aircraft orders. this syndicated loan launched at usd 500 million and closed at usd 840 million due to overwhelming market response, becoming asia’s largest aircraft pdp financing to date and boosting the dynamic aviation finance market in the region. calc’s executive team and bank representatives involved in the syndicated loan attended the signing ceremony. china everbright limited's executive director and chief executive officer dr. zhao wei, as the chairman of calc gives opening speech at the ceremony.
dr. zhao wei, chairman of the board, calc gives opening remarks
barry mok, deputy ceo and chief financial officer of calc, said, “calc is honored to be supported and trusted by many leading banks in the region for arranging the group’s first “revolving” syndicated loan and making it the largest financing facility in calc’s history. this is also an unsecured loan which marks another milestone for the group’s financial innovation and reflects the full confidence of the banking community on our financial standing. since this syndicate is structured in the form of a revolving loan, such flexibility allows calc to double the number of aircraft that would have been financed, effectively supporting the group’s ongoing large orderbook delivery. this in turn has facilitated the group to grasp the opportunity in the market and enhance its leading position in the aviation industry.”
mr. mok commented further: “this syndicated loan allows calc to continually improve and enhance its financing scale and enables the group to establish more investment. it also reflects the group's adoption of a wider variety of diversified financing tools in order to meet the robust demand of investors for long-term stable cash flow and liquidity of quality aircraft assets. the group looks forward to providing more flexible arrangements in the near future in order to meet the strong appetite for more aircraft demand and fleet management among airline companies."
a total of 17 banks were involved in the syndicated loan. bank of communications - hong kong branch, china everbright bank - hong kong branch, chiyu bank, chong hing bank, icbc (asia), nanyang commercial bank, agricultural bank of china - hong kong branch, ping an bank - shenzhen branch and shanghai pudong development bank acted as the mandated lead arrangers of the deal and the first six banks acted as bookrunners. for the other banks, icbc (thai) and tai fung bank acted as lead arrangers; mega bank - hong kong branch, china mingsheng banking - hong kong branch, bank of east asia, bank sinopac - macau branch, china mingsheng bank - shanghai pilot free trade zone branch, and far eastern bank were arrangers of the deal.
calc’s executive team and bank representatives at the signing ceremony
about calc
china aircraft leasing group holdings limited (“calc”), a one-stop aircraft full life-cycle solutions provider for global airlines, is listed on the main board of the stock exchange of hong kong limited (“sehk”) (stock code: 01848.hk). the businesses and subsidiaries of the group are involved in two main business areas comprising new aircraft leasing and used aircraft recycling and disassembling. calc’s scope of business includes regular operations such as aircraft operating leasing, purchase and leaseback, and structured financing, as well as value-added services such as fleet planning, fleet upgrade, aircraft disassembling and component sales. calc was listed by renowned aviation consulting firm icf international as one of the top 10 global aircraft lessors, based on the combined asset value of its fleet and order book.
listed in hong kong as the first aircraft leasing company in asia in july 2014, calc is currently a constituent stock of the hang seng global composite index, the hang seng composite index, msci china small cap index, and an eligible stock under southbound trading of shenzhen-hong kong stock connect.
