BOC Aviation prices its first 10 year offshore RMB bond

BOC Aviation has priced a private placement of RMB300 million of 10-year senior unsecured fixed rate notes. This is first 10-year offshore RMB bond issued by BOC Aviation and the first to be issued by an aircraft operating lessor. The transaction, arranged by DBS Bank, was issued off BOC Aviation’s US$2 billion Euro Medium Term Note Programme established in September 2012. The sale of the Notes is expected to close on 26 February 2014, subject to satisfaction of customary closing conditions. The Notes were priced at par and will bear a fixed interest coupon of 5.5% per annum with interest