DVB Bank completes secured financing facility for Ping An Aircraft Leasing

German aviation bank DVB Bank has disclosed the completion of a secured financing facility for Ping An Aircraft Leasing. The facility is for a new Airbus A350-900 delivered by Ping An to Vietnam Airlines under a sale-and-leaseback transaction in August 2017. Ping An Aircraft Leasing is an Irish subsidiary of Shanghai-based lessor Ping An International Financial Leasing. The loan facility was led by DVB Bank, with Korean Development Bank being the joint arranger and lender in the facility. DVB is also the facility agent and security trustee for the financing. The lenders were advised by Clifford Chance while Baker & McKenzie acted for Ping An.