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) 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. 3. The individual contributions of some of the lenders to this $400 million USD syndicated loan are unknown. However, it is known that ICBC contributed $80 million USD. For the time being, AidData has estimated the contribution of banks by assuming that each lender (minus ICBC's contribution) contributed an equal amount ($400 million-80 million/5=64 million USD) to the loan syndicate.