CALC funds one A320 on lease to Air India

China Aircraft Leasing Corporation (CALC) has completed its very first aircraft financing backed by a guarantee issued by UK Export Finance for an A320 aircraft leased to Air India.

This financing covers the first of the five A320 aircraft being delivered to Air India this year.

Credit Agricole-CIB acted as the ECA financing advisor, Vedder Price was the transaction counsel advising CALC. TD Bank was the lender and TD Securities was the co-arranger. ING Capital is the co-arranger and facility agent, Wilmington Trust as the security trustee and Watson Farley Williams provided legal counsel to the ECAs and the lender.

“We are glad to have obtained ECA financing as an important international financing support for our global business expansion strategies,” says Dr. Mike Poon, CEO and Executive Director of CALC. “This mandate also means to us a recognition of our credit status by international agencies, and it further facilitates our on-going development plan into the international aviation market that we have laid a good start with Air India. Riding on the ‘One Belt One Road’ socio-economic strategy announced by the Chinese government, CALC is determined to extend our full value-chain aircraft solution model to the overseas market, paving ‘One Belt One Road’in the aviation sector. We would like to thank the three ECAs for their support, and all the professional parties involved in this project. We look forward to further cooperation in the near future.”