BOC Aviation has closed a self-arranged club loan transaction with 25 global banks. The loan totals $2.3bn.
The five-year transaction is the largest the company has signed to date. It exceeds its previous record club loan of $1.375bn it signed in October last year.
""The transaction, which closed at highly competitive pricing levels, provides us with additional resources as we expand our modern aircraft portfolio,"" said BOC Aviation chief financial officer Wu Jianguang.
The proceeds will be used for general working capital purposes, capital expenditure, and refinancing of existing debts.
Jianguang added: ""We are grateful to have a strong panel of banking partners, which has supported our largest club loan transaction.""
DBS Bank acted as the global coordinator and documentation agent with the Hongkong and Shanghai Banking Corporation's Singapore branch acting as facility agent for all four facilities.
BOC Aviation signs its largest club loan
