BOC Aviation Issues $50m Offshore Bond

BOC Aviation has issued its first 10-year offshore RMB bond. The lessor, fully owned by Bank of China, will offer RMB300m ($49m) of senior unsecured fixed notes. The sale is expected to close on 26 February 2014, subject to market conditions. They are priced at par and will bear a fixed interest coupon of 5.5 per cent per annum, with interest payable semi-annually in arrears. The transaction, arranged by DBS Bank, was issued off BOC Aviation’s $2bn Euro Medium Term Note Programme, established in September 2012. Robert Martin, MD and CEO of BOC Aviation, said: “We will continue to tap the debt capital markets to support our growth strategy. This is especially true as Asian capital markets continue to open up.”

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