China Aircraft Leasing Group Holdings Limited together with its subsidiaries is pleased to announce that China Asset Leasing Company Limited, a wholly-owned subsidiary of the group, completed the issuance of RMB 800 million medium-term notes (“MTN”) with a term of three years at a coupon rate of 4.93%.
The proceeds will be used for aircraft acquisition.
China Chengxin International Credit Rating Co has granted an “AA+” ratingon CALC(TJ) and this tranche of MTN.
This is the third time that CALC has successfully issued RMB MTN after a three-year interval. The amount raised is far more than either of the previous two issuances, with a significant reduction in coupon rate.
In addition to banks, the proportion of funding from market-oriented investors, including securities asset managers, insurance companies and funds has largely increased to over 50% among all the investors in this MTN.
The diversified investor mix further demonstrated the recognition of the aircraft leasing industry prospects and the Group’s business operation from the capital market.
The issuance of MTN also represents another venture by CALC(TJ) in the capital market, following the successful issuance of its first corporate bond valued at RMB1 billion in June this year.
Bank of Beijing has been appointed as the joint lead underwriter and bookrunner, and China Merchants Securities has been appointed as the joint lead underwriter.