China Aircraft Renting Group Holdings Limited, the largest indie operating aircraft lessor in Tiongkok, issued 5-year USD300 million plus 7-year USD200 million unrated plus unsecured bonds, which bear home loan of 4. 7% and five. 5% respectively. The bonds are usually guaranteed by the Company.
The net proceeds of the bonds problem will amount to approximately USD496. two million, to be used for aircraft purchases, business expansion of the Company’ t aircraft and related businesses plus general working capital. For the 5-year bonds, 40% of the investor foundation is from fund management plus insurance companies, 35% from banks plus 25% from private banking traders. Asian and European investors take into account 82% and 18% of the membership respectively. For the 7-year bonds, the particular composition is 45%, 39% plus 16%. Asian and European traders account for 78% and 22% from the subscription respectively.
Mister. Barry MOK, Deputy Chief Executive Officer plus Chief Financial Officer of CALC, said, “ Following the placement of the particular 3-year and 5-year USD provides last year, the bonds issued on this occasion have a longer maturity and set interest rate, and are unsecured. Such agreement will optimise the Company’ h financing structure. Although the interest rate within the USD market has witnessed boosting trend during the last half year, the particular 5-year bonds bear a lower rate of interest than the previous ones, which shows the market’ s stronger self-confidence in the Company’ s credit ability. It will further bring down the Company’ s financing costs. The provides issuance has received overwhelming assistance from investors from various locations around the world on a diversified base, which usually demonstrates the market’ s identification of CALC’ s leading placement. The Company is well positioned in order to capture the next wave of possibilities in the international market to support the efforts to expand its navy portfolio, extend its global existence and cement its unique placement as a full value-chain aircraft options provider. ”
China and taiwan Everbright Bank Co., Ltd., Hk Branch; Citigroup Global Markets Restricted; DBS Bank Ltd. are involved to act as the joint global planners, joint bookrunners and joint guide managers of the bonds issuance. China and taiwan Everbright Securities (HK) Limited can also be one of the joint bookrunners and shared lead managers.