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SMBC Aviation Capital signs US$1.5 billion financing
A total of 29 financial institutions join five-year syndicated loan and revolving credit facility
Michael Marray 3 Jul 2024

SMBC Aviation Capital has secured a five-year syndicated loan and revolving credit facility amounting to US$1.5 billion.

The financing package comprises a US$375 million term loan and a US$1.125 billion revolving credit facility from a consortium of American, Asian, Australian, European and Middle East banks.

Citigroup Global Markets Asia Limited acted as global coordinator, and together with eight banks – Bank of China, Caixabank, Cathay United Bank, DBS Bank, Emirates NBD Capital, Oversea-Chinese Banking Corporation, Taipei Fubon Commercial Bank, and Taishin International Bank –acted as senior mandated lead arrangers and bookrunners. Australia and New Zealand Banking Group, Singapore Branch, acted as mandated lead arranger and bookrunner.

The senior syndication phase of the transaction included participation from 10 banks, while the general syndication phase included participation from a further 19 banks. Of the 29 financial institutions, 13 are new banking relationships for SMBC Aviation Capital.

“This transaction represents a further milestone in our syndicated banking programme and demonstrates our ability to raise large-scale, competitively priced capital," says Aisling Kenny, SMBC Aviation Capital’s chief financial officer. "The revolving credit facility, which forms 75% of this transaction, will provide further operational flexibility for the future liquidity needs of SMBC Aviation Capital.”

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