CALC out with offer for outstanding US dollar bonds

China Aircraft Leasing Group (CALC) has launched a tender offer to purchase for cash the outstanding amount of two US dollar bonds due 2024. The Offers are being made as part of the Group’s “proactive approach in debt management aiming to enhance its international credit rating”. CALC aims for the purchase offering to reduce short-term liabilities and optimise the debt structure to control interest expenses. The offers will be funded through the company’s operational cash flows and/or existing cash on its balance sheet. The two USD bonds to be purchased under the tender offer memorandum include the US$200 million 5.50%