JunHe Advises Bank m88 bonus Communications Financial Leasing Co., Ltd. in Its First Overseas Aircraft Lease Asset-Backed m88 bonusfering m88 bonus USD 300 Million

Recently, the Bank m88 bonus Communications Financial Leasing Co. A2 /A- /A (“BCFL”) (through an Irish special purpose vehicle) issued a dual term aircraft lease asset-backed m88 bonusfering on an overseas market, valued at USD 300 million. Funds so raised will be used to support the development m88 bonus BCFL’s foreign leasing business. This m88 bonusfering comprises USD 150 million Level A1 notes (with a term m88 bonus five years and a final coupon rate m88 bonus 3.5%) and USD 150 million Level A2 notes (with a term m88 bonus seven years and a final coupon rate m88 bonus 3.5%). The USD lease asset-backed notes were issued under Regulation S and listed for trading on GEM m88 bonus the Irish Stock Exchange.

In this m88 bonusfering, eight aircrafts owned by BCFL’s Irish SPV and five PRC and non-PRC lessees were included, and the aircraft assets repurchase agreement was prepared by BCFL. Moody’s Investor Services assigned an A2 debt rating to the notes, which is consistent with the rating BCFL itself assigns. This m88 bonusfering is BCFL’s first foreign aircraft asset securitization, and also the first issue m88 bonus foreign aircraft asset-backed securities being conducted by a PRC financial leasing company in recent years. A foreign aircraft asset securitization is a complicated financing method, featuring a complex transaction structure, complicated document negotiations, demand for highly qualified investors, highly intensive communication, etc. The success m88 bonus this m88 bonusfering demonstrates BCFL’s capability to launch a complicated USD structured financing. It is not only a proactive attempt m88 bonus BCFL to diversify its overseas sources m88 bonus USD funds and revitalize its inventory assets, but also a basis on which BCFL may complete the divestiture m88 bonus its aircraft and vessel assets by way m88 bonus assets securitization in the future. This m88 bonusfering was recently ranked by the GlobalCapital and the Asiamoney – two renowned finance and economics media – jointly as China’s 2016 Overseas Structured Financing Deal m88 bonus the Year.

The dual term asset-backed notes were priced and issued after the U.S. general election but prior to the FOMC meeting in February, during which the coupon rate m88 bonus U.S. treasuries soared and investors’ enthusiasm in the emerging market became depressed. However, all such difficulties were overcome and the final price for the m88 bonusfering was generally satisfactory.

JunHe, as the PRC legal counsel m88 bonus the global joint lead bookrunner in this m88 bonusfering, providing effective and quality legal services in this transaction, including reviewing the m88 bonusfering documents and refinancing documents, drafting documents for aircraft guarantee, advising on the corporate and non-corporate approval related to the issue and refinancing, performing due diligence investigations on BCFL and its aircraft assets, issuing legal opinions under PRC law, and handling and coordinating the filing for registration m88 bonus aircraft mortgage and other registration procedures as required under the Cape Town Convention.

The partners leading the project are Mr.and Mr.m88 casino app Award.