BOC Aviation Increases RCF With Bank Of China To US$3.5 Billion And Extends Maturity To 2026
03 Dec 2020
BOC Aviation Limited (“BOC Aviation” or the “Company”) is pleased to announce that it has increased the amount of the committed, unsecured revolving credit facility (the “RCF”) from its largest shareholder, Bank of China and extended the maturity to 2026.
The new terms of the facility now provide the Company with US$3.5 billion to support its future growth, an increase of US$1.5 billion. The final maturity of the RCF has also been extended from 28 April 2022 to 31 December 2026.
Robert Martin, Managing Director and Chief Executive Officer, said “The upsizing and extension of the RCF is a demonstration of the strength of the relationship between BOC Aviation and our major shareholder, Bank of China.”
Steven Townend, Deputy Managing Director & Chief Financial Officer, added “Support from Bank of China has been a key strength of the Company. This facility was first provided to the Company in 2007 in the amount of US$1 billion and subsequently increased as the Company grew. This increase in the facility will allow us to continue to pursue our strategic investment goals at all points in the cycle and build our available liquidity in line with the growth of our balance sheet.”
About BOC Aviation
BOC Aviation is a leading global aircraft operating leasing company with a fleet of 555 aircraft owned, managed and on order. Its owned and managed fleet was leased to 87 airlines worldwide in 39 countries and regions as at 30 September 2020. BOC Aviation is listed on the Hong Kong Stock Exchange (HKEx code: 2588) and has its headquarters in Singapore with offices in Dublin, London, New York and Tianjin. For more information, visit www.bocaviation.com.
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