BOC Aviation prices US$750m of 3.875% senior unsecured 10-year notes

BOC Aviation has issued US$750m 10-year fixed rate Rule 144A/Regulation S senior unsecured notes due 2026. The transaction was issued under BOC Aviation’s US$5bn Global Medium Term Note Program. The joint bookrunners for the issue were BOC International, Citigroup, Goldman Sachs, The Hongkong and Shanghai Banking Corporation Limited, J.P. Morgan, Morgan Stanley, BNP Paribas and Wells Fargo Securities. The Notes will bear a fixed interest coupon of 3.875% per annum with interest payable semi-annually in arrears. There was strong interest from institutional funds, pension funds and insurers with orders in excess of US$3.2bn. BOC Aviation will apply the net proceeds to fund capital expenditure, refinance existing borrowings or for general corporate purposes.