Skip to content
AidData logo

Overview

ICBC contributes $80 million USD to $400 million USD syndicated term loan to Air Lease Corporation for general corporate purposes in 2022 (Linked to Record ID#106642)

Commitments (Constant USD, 2023)$75,593,531
Commitment Year•2022Country of Activity•United StatesDirect Recipient Country of Incorporation•United StatesSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Dec 9, 2022
Last repayment (originally scheduled)
Dec 8, 2027

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

Loading map…

The purpose of this project was for ICBC to contribute $80 million USD to $400 million USD syndicated term loan to Air Lease Corporation for general corporate purposes in 2022. More detailed locational information can be found at: https://www.openstreetmap.org/way/104944090

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Commercial Banks

  • Industrial and Commercial Bank of China (ICBC)

Cofinancing agencies

Private Sector

  • Apple Bank for Savings Inc.
  • CaixaBank, S.A. (Formerly Criteria CaixaCorp)
  • Sumitomo Mitsui Trust Bank, Limited (SMTB)
  • The Chugoku Bank, Ltd.

State-owned Commercial Banks

  • China Construction Bank Corporation (CCB)

Receiving agencies

Private Sector

  • Air Lease Corporation

Loan desecription

ICBC and CCB contribution to $400 million USD syndicated term loan to Air Lease Corporation for general corporate purposes in 2022

Interest type•Variable Interest RateMaturity•5 years

Narrative

Full Description

Project narrative

On December 9, 2022, financial close was reached on a deal in which a syndicate of six banks — including ICBC and China Construction Bank — entered into a $400 million USD syndicated term loa agreement with Air Lease Corporation, a Delaware-based company specializing in aircraft leasing and financing. The loan's maturity was set at five years. The proceeds of the loan will be used for general corporate purposes. While ICBC (Record ID#1066141) contributed $80 million USD and China Construction Bank (Record ID#106642) contributed to this loan, the following: Sumitomo Mitsui Trust Bank, CaixaBank, S.A., Apple Bank for Savings and The Chugoku Bank also participated.

Staff comments

1. Air Lease Corporation (ALC) is a leading global aircraft leasing company headquartered in Los Angeles, California. It provides leasing and financing solutions to airlines worldwide and manages a fleet of aircraft primarily from major manufacturers such as Boeing and Airbus. 2. AidData cannot estimate the interest rate because the applicable margin and reference rate are not available.