CDB Aviation, a wholly-owned Irish subsidiary of China Development Bank Financial Leasing, procured a $530 million unsecured syndicated term loan from BNP Paribas and a group of other financial institutions.

“This credit facility marks another important step in diversifying our company’s financing sources at a competitive cost of funds while boosting our increasingly strong liquidity position,” Brendan O’Neill, CFO of CDB Aviation, said. “We thank our banking partners for placing their trust in our platform and supporting our strategic direction.”

BNP Paribas led the facility as agent with funding from such aviation lenders as BNP Paribas (acting through its Singapore branch) and MUFG Bank as the mandated lead arrangers and bookrunners, as well as Bank of Communications’ Hong Kong branch, China CITIC Bank’s London branch; the Hongkong and Shanghai Banking Corporation and the Agricultural Bank of China’s New York branch. The proceeds will fund new capital expenditure, debt refinancing, general corporate purposes and working capital.

“Our capital raising campaigns continue to attract increasingly strong interest from a diverse lender base from across the world,” Patrick Hannigan, CEO of CDB Aviation, said “The successful outcome of these initiatives is a testament to our team’s exceptional ability to manage all commercial, legal and finance aspects of such complex transactions.”