ICBC Leasing is in the market with an offering of $583 million fixed rate eight-year notes, secured by 18 aircraft. This is the first secured capital markets offering for a Chinese lessor, which is also acting a sole servicer – again another first. Moody’s has assigned the notes with an A3 rating. The notes, due 2022, are being issued by Dragon Aviation Finance Luxembourg S.A. acting in respect of its Dragon Aviation 2014-01. The notes will be secured by a portfolio of asset loans, in which the repayment is indirectly and fully supported by ICBC Financial Leasing Co., Ltd. (ICBCFL).

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