China Aircraft Leasing Group (CALC) has upsized its inaugural warehouse facility to $700 million, the company said on March 31, 2025.
The company had secured the $400 million warehouse facility in October last year.
CALC said the expanded facility was substantially oversubscribed, with total commitments more than doubling the targeted accordion amount.
The syndicate comprises of 16 banks across China, Europe, and other Asian markets, bringing the total number of lenders to 20. The company said over 20% of the funding came from new lenders to the company.
"The successful upsizing of our warehouse facility reflects the global financial community’s strong confidence in CALC’s business model and long-term growth strategy,” said CALC executive director, CFO, and chief strategy officer Conrad Li. “We appreciate the broad base of support from the leading banks that participated in the syndication - which recognises CALC’s solid financial position and continued growth internationally.
BNP Paribas, Credit Agricole, CIB, MUFG Bank, and Natixzis CIB acted as mandated lead arrangers and bookrunners. Airbus Bank, KGI Bank, Ping An Bank, and Shanghai Pudong Development Bank served as mandated lead arrangers. China Minsheng Bank and E.Sun Commercial Bank were lead arrangers, while an additional 10 banks - Bank SinoPac, Cathay United Bank, CTBC Bank, Dah Sing Bank, Hua Xia Bank, Mizuho Marubeni Leasing America, Nanyang Commercial Bank, Sumitomo Mitsui Trust Bank, Tai Fung Bank, and Taipei Fubon Commercial Bank - participated as arrangers.
Li added: “This facility enhances CALC’s financing flexibility, enabling us to support fleet expansion and drive sustainable growth efficiently.”
A subsequent drawdown from the facility was completed in March 2025 to fund the delivery of CALC's first A321neo to United Airlines, marking the first of 12 A321neos to be delivered from CALC's existing orderbook.