Standard Chartered Bank has successfully closed a multi-million financing transaction for one Airbus 320-200 aircraft for Spring Airlines.
The 10-year Japanese Yen-denominated financing facility for the aircraft was arranged, underwritten and funded exclusively by Standard Chartered Bank. The aircraft was successfully delivered in June 2015. This transaction involved the financing of a special purpose company, wholly-owned by Spring Leasing, in China’s Dongjiang Free Trade Port Zone of Tianjin. It demonstrates the Bank’s market leadership in understanding client’s needs and responding with an innovative financing structure, which is critical in supporting the airline’s expansion plans in both the domestic and international markets.
Chen Ke, Chief Executive Officer, Spring Leasing, said, “We value Standard Chartered Bank as our closest and most innovative foreign banking partner. This financing transaction is a critical development milestone for Spring Leasing and sets us in good stead as we embrace new financing models. We look forward to the continued strong support from Standard Chartered.”
Simon Perkins, Managing Director, Aviation Finance at Standard Chartered Bank, added, “Spring Airlines and Spring Leasing are important partners of the Bank. We are delighted to work with Spring Leasing in the financing of the group’s fleet following two previous financing transactions for Spring Airlines. This being our first transaction in the Tianjin Free Trade Zone, is a testament to Standard Chartered Bank’s strength in leveraging capabilities in key markets and our nimbleness to constantly evolve with and tap market opportunities. We continue to be committed to the strong relationship with Spring Airlines and look forward to supporting their growth plans.”