CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing, has secured a US$530 million unsecured syndicated term loan from BNP Paribas and other global financial institutions.

“This credit facility marks another important step in diversifying our company’s financing sources at a competitive cost of funds, while boosting our increasingly strong liquidity position,” says CDB Aviation chief financial officer Brendan O’Neill.

The facility was led by BNP Paribas as agent, with funding from BNP Paribas, acting through its Singapore branch, and MUFG Bank as the mandated lead arrangers and bookrunners; Bank of Communications Hong Kong Branch; China CITIC Bank London Branch; The Hongkong and Shanghai Banking Corporation Limited; and Agricultural Bank of China, acting through its New York branch.

The proceeds will fund new capital expenditure, debt refinancing, general corporate, and working capital.

“Our capital-raising campaigns continue to attract increasingly strong interest from a diverse lender base from across the world,” says CDB Aviation chief executive officer Patrick Hannigan. “The successful outcome of these initiatives is a testament to our team’s exceptional ability to manage all commercial, legal, and finance aspects of such complex transactions.”