Press Release

BOC Aviation Establishes US$2 Billion Euro Medium Term Note Programme

20 Sep 2012

BOC Aviation has established a US$2 billion Euro Medium Term Note Programme (“EMTN Programme”) that will be listed on the Singapore Exchange Securities Trading Limited (“SGX-ST”). Admission to the official list of the SGX-ST and quotation of any notes on the SGX-ST is not to be taken as an indication of the merits of BOC Aviation, the EMTN Programme or the notes. Proceeds will be used to fund new capital expenditure, general corporate purposes and/or refinancing existing borrowings.  

“Debt capital markets financing represented only 5% of our financing as at 30 June 2012.  We have been looking to diversify our funding sources and feel this is a good time to put the EMTN Programme in place.” said Mr. Phang Thim Fatt, Deputy Managing Director and Chief Financial Officer of BOC Aviation.     

Citigroup and HSBC have been mandated as arrangers for the EMTN Programme, and will act as dealers together with BOC International, DBS Bank Ltd, J.P. Morgan and Morgan Stanley. BOC Aviation is the leading Asia-based aircraft leasing company with a portfolio of 194 owned and managed aircraft operated by airlines worldwide.  It has 60 aircraft on firm order. The Company has one of the youngest fleets in the industry with an average owned aircraft age of less than four years.