China Aircraft Leasing (CALC) has received an approval from the Shanghai Stock Exchange (SHSE) for its asset-backed securities issuance programme with a ceiling of RMB5 billion.
In a release CALC said that this was a first such ABS programme for the aircraft leasing sector in China. CALC said the approval has been granted against the backdrop of steady recovery of the aviation industry and numerous national policy initiatives in favour of the civil aviation sector.
This is CALC’s second innovative product cleared by SHSE. In 2018, the Hong Kong-listed lessor launched China’s first foreign currency denominated asset securitization product and the first aircraft leasing ABS issued in the public market which was successfully listed on SHSE.
Mike Poon, chief executive of CALC, said, “The receipt of this approval underlines the recognition from the national regulatory authorities. This has instilled great confidence for us to accelerate our pace of development. We endeavor to grasp this opportunity to continue in pursuing development in the aviation financing industry.”