CDB Aviation Executes $650MM Portfolio Secured Financing

CDB Aviation, a wholly-owned Irish subsidiary of China Development Bank Financial Leasing, entered into a facility agreement for a $650 million secured portfolio financing.

The seven-year facility is secured with a portfolio of 15 narrowbody and widebody aircraft, comprising the Airbus A320/A321neo, Airbus A330-900, Boeing 737-8 and Boeing 787-9 Dreamliner aircraft.

The facility is financed by a group of MLA banks, consisting of Crédit Agricole Corporate and Investment Bank, Bank of Communication, The Hongkong and Shanghai Banking Corporation and ING Bank. Natixis acted as debt coordinator. Crédit Agricole Corporate and Investment Bank acted as facility agent and security trustee. Allen & Overy is the mandated lead arrangers’ legal counsel, while Clifford Chance represented CDB Aviation.

“We continue to successfully address CDB Aviation’s capital needs through diversifying our financing sources and by broadening and deepening our relationships with banking and capital markets providers,” Brendan O’Neill, CFO of CDB Aviation, said. “Our ability to engage global financial institutions is a direct reflection on the strong competencies and efforts of our finance team and the support of our shareholder, CDB Leasing.”

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