CDB Aviation, a wholly owned Irish subsidiary of CDB Leasing, closed a $525 million unsecured credit facility, which marks the company’s first such syndicated transaction.

“This inaugural credit facility is an important step in further diversifying our company’s financing sources at a competitive cost of funds,” said CDB Aviation Chief Financial Officer Will Gramolt.

The five-year facility will be used for general corporate purposes.

The facility was led by Bank of China (Hong Kong), Crédit Agricole Corporate and Investment Bank, Goldman Sachs (Asia), Mizuho Bank and Société Générale Corporate and Investment Banking as mandated lead arrangers and bookrunners. Crédit Agricole CIB also acted as the facility agent.

“We are very pleased to have received such strong interest from a global lender base, and thank our banking partners for placing their trust in CDB Aviation. We see this as a testament to the strength of our global platform and an endorsement of our leading industry position and vision,” added Gramolt.

CDB Leasing is the only leasing arm of the China Development Bank and a leading company in China’s leasing industry that has been engaged in aircraft, infrastructure, ship, commercial vehicle and construction machinery leasing and enjoys a Chinese sovereign credit rating.