Press Release

BOC Aviation Raises over US$1.5 Billion in Debt Financing

31 Oct 2011

BOC Aviation has successfully closed over US$1.5 billion in debt financing from January to October this year.  The funds, raised from a diversified group of banks and financial institutions, were used to finance more than 30 aircraft and advance payments for future aircraft deliveries.

BOC Aviation continued to receive support from its existing group of banks and also reached out to new financiers.  Banks that arranged the Company’s financing this year include Bank of Communications, Bank of Tokyo-Mitsubishi UFJ, Commonwealth Bank of Australia, Citi, DBS Bank (“DBS”), Hongkong and Shanghai Banking Corporation (“HSBC”), ING Bank, JPMorgan Chase, KfW Ipex-Bank, Malayan Banking, Oversea-Chinese Banking Corporation, Sumitomo Mitsui Banking Corporation and United Overseas Bank.  These included secured and unsecured commercial loan financings as well as financings guaranteed by the Export-Import Bank of the United States and the European Export Credit Agencies.  Following strong interest in the Company’s medium term notes (“MTN”) last year, BOC Aviation also launched another three series of notes from its US$300 million Multicurrency MTN Programme.  The note series were arranged by DBS, HSBC and Standard Chartered Bank and attracted interest from both institutional and individual investors.  

Commenting on the Company’s financing activities, Mr. Phang Thim Fatt, Deputy Managing Director and Chief Financial Officer of BOC Aviation, said “We are extremely pleased to have the continued support of our existing financiers and welcome new lenders to our growing financing group. The commitment of these leading financial institutions is a clear sign of the confidence they have in our company.”    

BOC Aviation is the leading Asia-based aircraft leasing company with a portfolio of 178 modern aircraft operated by airlines worldwide. In addition, the company has 60 aircraft on firm order.  BOC Aviation has one of the youngest fleets in the industry with an average aircraft age of less than four years.

BOC Aviation is 100% owned by Bank of China, one of the largest banks in the world.

For more information, please contact:

Elsie Ng
Tel: +65 6325 9638
[email protected]
www.bocaviation.com