BOC Aviation has renewed its $3.5bn unsecured revolving credit facility (RCF) from its largest shareholder, Bank of China and has extended its maturity to February 13, 2031.
The lessor said the terms of the new facility will continue to provide it with $3.5bn to fund its continued growth.
“This RCF extension reflects the confidence that Bank of China has in the future of our business and underscores the depth of our relationship with our major shareholder,” said BOC Aviation CEO and managing director Steven Townend. “The facility strengthens our financial flexibility and ensures our access to ample liquidity to support our aircraft investments across the cycle.”
In 2007, Bank of China provided its first $1bn RCF to the company. This was increased to $2bn in 2009 and to $3.5bn in 2020.