Press Release
BOC Aviation Announces Pricing of S$75 Million In Two Senior Unsecured Notes Due 2015
19 Mar 2013
*NOT FOR DISTRIBUTION IN THE UNITED STATES*
BOC Aviation Pte. Ltd. ("BOC Aviation") today announced that it has priced S$75 million in 2% Senior Unsecured Notes due 2015 (the "Notes"). The Notes will close on 26 March 2013, subject to satisfaction of customary closing conditions.
The transaction, arranged by United Overseas Bank (“UOB”), was issued off BOC Aviation's US$2 billion Euro Medium Term Note Programme established in September 2012.
The Notes were denominated in Singapore Dollars, bearing a fixed interest coupon of 2% per annum, payable semi-annually. BOC Aviation will apply the net proceeds to fund its new capital expenditure, for general corporate purposes and refinancing existing borrowings.
The unsecured notes will be listed on SGX-ST and will be rated BBB- by Standard & Poor’s.
“We are very pleased to get such a good response,’’ Robert Martin, Managing Director and Chief Executive Officer of BOC Aviation, said. “This was our third note issue under our EMTN programme since it was established in 2012, indicating continued demand for BOC Aviation notes.”
BOC Aviation is the leading Asia-based aircraft leasing company with a portfolio of 213 owned and managed aircraft operated by airlines worldwide, with another 92 aircraft on firm order and 22 on committed purchase and leaseback. The Company has one of the youngest fleets in the industry; the aircraft we own are on average less than four years old.
BOC Aviation is 100% owned by Bank of China, one of the largest banks in the world.
BOC Aviation will be celebrating its 20th anniversary this year.
*******
This announcement is not an offer for sale of securities in the U.S. or any other jurisdiction where it is unlawful to do so. Any notes or other securities of the Issuer to be issued have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any state of the U.S. or any other jurisdiction, and may not be offered, sold or delivered in the U.S. except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state or local securities laws.
This notice is for information purposes only and does not constitute an offer or recommendation or sale of notes or other securities in the U.S. or other jurisdiction where it is unlawful to do so. Neither this notice nor any portion hereof may be sent or transmitted into the U.S. or any jurisdiction where it is unlawful to do so. Any failure to comply with these restrictions may result in a violation of the Securities Act or the applicable laws of other jurisdictions.
For more information, please contact:
Claire LEOW
Tel: +65 6325 9638
[email protected]
www.bocaviation.com