BOC Aviation Limited (“BOC Aviation” or the “Company”) is pleased to announce that it has increased the amount of the committed, unsecured revolving credit facility (the “RCF”) from its largest shareholder, Bank of China and extended the maturity to 2026.
The new terms of the facility now provide the Company with US$3.5 billion to support its future growth, an increase of US$1.5 billion. The final maturity of the RCF has also been extended from 28 April 2022 to 31 December 2026.
Robert Martin, Managing Director and Chief Executive Officer, said “The upsizing and extension of the RCF is a demonstration of the strength of the relationship between BOC Aviation and our major shareholder, Bank of China.”
Steven Townend, Deputy Managing Director & Chief Financial Officer, added “Support from Bank of China has been a key strength of the Company. This facility was first provided to the Company in 2007 in the amount of US$1 billion and subsequently increased as the Company grew. This increase in the facility will allow us to continue to pursue our strategic investment goals at all points in the cycle and build our available liquidity in line with the growth of our balance sheet.”