Hong Kong – 27 May 2019, CALC (the “Group”, SEHK stock code: 01848), a full value-chain aircraft solutions provider for the global aviation industry, is pleased to announce that the Group has signed a five-year unsecured revolving syndicated loan of USD 840 million to finance part of Pre-Delivery Payments (“PDP”) for new aircraft orders. This syndicated loan launched at USD 500 million and closed at USD 840 million due to overwhelming market response, becoming Asia’s largest aircraft PDP financing to date and boosting the dynamic aviation finance market in the region. CALC’s executive team and bank representatives involved in the syndicated loan attended the signing ceremony. China Everbright Limited's Executive Director and Chief Executive Officer Dr. Zhao Wei, as the Chairman of CALC gave opening speech at the ceremony.

Dr. Zhao Wei, Chairman of the Board, CALC gives opening remarks

Barry Mok, Deputy CEO and Chief Financial Officer of CALC, said, “CALC is honored to be supported and trusted by many leading banks in the region for arranging the Group’s first “revolving” syndicated loan and making it the largest financing facility in CALC’s history. This is also an unsecured loan which marks another milestone for the Group’s financial innovation and reflects the full confidence of the banking community on our financial standing. Since this syndicate is structured in the form of a revolving loan, such flexibility allows CALC to double the number of aircraft that would have been financed, effectively supporting the Group’s ongoing large orderbook delivery. This in turn has facilitated the Group to grasp the opportunity in the market and enhance its leading position in the aviation industry.”

Mr. Mok commented further: “This syndicated loan allows CALC to continually improve and enhance its financing scale and enables the Group to establish more investment. It also reflects the Group's adoption of a wider variety of diversified financing tools in order to meet the robust demand of investors for long-term stable cash flow and liquidity of quality aircraft assets. The Group looks forward to providing more flexible arrangements in the near future in order to meet the strong appetite for more aircraft demand and fleet management among airline companies."

A total of 17 banks were involved in the syndicated loan. Bank of Communications - Hong Kong Branch, China Everbright Bank - Hong Kong Branch, Chiyu Bank, Chong Hing Bank, ICBC (Asia), Nanyang Commercial Bank, Agricultural Bank of China - Hong Kong Branch, Ping An Bank - Shenzhen Branch and Shanghai Pudong Development Bank acted as the mandated lead arrangers of the deal and the first six banks acted as bookrunners. For the other banks, ICBC (Thai) and Tai Fung Bank acted as lead arrangers; Mega Bank - Hong Kong Branch, China Mingsheng Banking - Hong Kong Branch, Bank of East Asia, Bank SinoPac - Macau Branch, China Mingsheng Bank - Shanghai Pilot Free Trade Zone Branch, and Far Eastern Bank were arrangers of the deal.

CALC’s executive team and bank representatives at the signing ceremony