BOC Aviation secures US$1.375 billion club term loan with 16 global banks

BOC Aviation, a prominent global aircraft operating leasing company, has successfully closed a substantial club term loan transaction, amounting to US$1.375 billion (£1.127 billion). This significant milestone marks the largest unsecured term loan signed by the company since its establishment in 1993. The transaction involves the collaboration of 16 leading banks hailing from various regions, including Asia, Europe, North America and the Middle East.

Citigroup Global Markets Singapore played a pivotal role as the Global Coordinator and Documentation Agent for this endeavour, while The Hongkong and Shanghai Banking Corporation Limited, Singapore branch, assumed the role of facility agent for all three facilities involved. The loan’s proceeds are earmarked for general working capital requirements and the refinancing of existing debts.

Steven Townend, Deputy Managing Director and Chief Financial Officer of BOC Aviation, expressed satisfaction with the achievement, stating, “We are very pleased to conclude our largest club term loan transaction at such competitive pricing levels. This will enable us to remain agile in the market and continue investing in growth opportunities that enhance our portfolio. We continue to receive strong support from global banks and are delighted to welcome three new lenders to our esteemed banking group.”

BOC Aviation boasts a robust fleet of 652 aircraft, comprising owned, managed and ordered units. As of June 30, 2023, its aircraft fleet is leased to 91 airlines across 42 countries and regions worldwide. The company, headquartered in Singapore, also maintains offices in Dublin, London, New York, and Tianjin, solidifying its global presence in the aviation leasing industry.