Bank of China contributes RUB 1.35 billion of RUB 30 billion syndicated loan for the acquisition of 32 aircrafts SSJ-100 by GTLK (linked to ProjectID #98753)

In May 2017, Bank of China contributed RUB 1.35 billion to a RUB 30 billion syndicated loan to finance the program for the acquisition of 32 aircrafts SSJ-100 initiated by State Transport Leasing Company (STLC or GTLK), a Russian state-owned leasing company, to be further leased out to JSC “Yamal Airlines”, Yakutia Airlines, JSC “IrAero” Airlines and Azimut Airlines under the Sukhoi Superjet (SSJ-100) domestic aircraft lease enhancement program (implemented by GTLK to the order of the RF Government with support of the Ministry of Transport and the Ministry of Trade & Industry of the Russian Federation). In March 2017, Russian Regional Development Bank (part of Rosneft group) and ICBC (JSC) (the Russian-subsidiary of ICBC) joined the syndicated loan facility agreement as a lender with commitments of RUB 5 billion and RUB 1.9 billion (see linked ProjectID #98753), respectively. Furthermore, in May 2017, Credit Bank of Moscow and Banca Intesa (Intesa Sanpaolo S.P.A.) joined the syndicated loan facility agreement as lenders with commitments of RUB 5.4 billion and RUB 1.35 billion, respectively. Gazprombank also contributed to this loan and was the arranger. As of April 2017, 17 aircrafts were supplied under the acquisition contract between Sukhoi Civil Aircraft Company and STLC; the supply of the remaining 15 aircrafts was expected late 2017. On December 21, 2017, the Group and Gazprombank signed an amendment agreement to the syndicated loan facility agreement dated December 13, 2016 which extended the loan facility amount to up to RUB 43.1 billion from RUB 30 billion for the purposes of financing the acquisition of 36 Sukhoi Superjet 100 aircraft (an increase from 32 Sukhoi Superjet 100 aircraft under the original syndicated loan facility agreement)

Number of official sources

2

Number of total sources

5