CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing, has entered into a facility agreement for the secured portfolio of 13 Airbus and Boeing aircraft, valued at approximately US$660 million. The transaction brings the lessor’s executed financings year-to-date to a total of US$2.53 billion.

The transaction, the first large-sized portfolio financing executed by the lessor since the onset of the Covid-19 pandemic, is secured with a combination of Airbus A320-200 and A350-900 as well as Boeing 737 MAX 8 and 787-9 Dreamliner aircraft.

“Diversifying financing sources at a competitive cost of capital is one of our key objectives,” CDB Aviation chief financial officer Brendan O'Neill says, adding that the transaction demonstrates the strong and wide-ranging relationships the company has built over the years with members of the banking and capital markets communities.

The facility is provided by a group of leading MLA banks, consisting of: Natixis, MUFG Bank, Crédit Agricole Corporate and Investment Bank, BNP Paribas, Nord/LB, Société Générale, and The Hongkong and Shanghai Banking Corporation.

Crédit Agricole Corporate and Investment Bank acted as facility agent and security trustee, while Natixis and MUFG Bank jointly coordinated the transaction.