CALC launches its first US$ 200 million private perpetual capital securities issue

Hong Kong, 21 December 2020 - China Aircraft Leasing Group Holdings Limited ("CALC" or the “Company”, HKSE stock code: 01848; together with subsidiaries, the “Group”), a full value chain aircraft solutions provider for the global aviation industry, is pleased to announce that the Group has completed a US$200 million perpetual capital securities issue through private placement at a financing cost of 6.4% over London InterBank Offered Rate. The proceeds have been earmarked mainly for business development purposes.

The subscriber of the securities is a special-purpose fund initiated by China Everbright Limited ("CEL"), and all of the US$200 million subscription monies came from an unconnected third-party financial institution. As the single largest shareholder of CALC, CEL’s support is instrumental for the successful completion of this issuance.

This is the first perpetual capital securities issue of the Group. The successful completion of this issuance highlights investors' confidence in the prospect of CALC, and is conducive to the Group's further optimization of its capital structure and liquidity.

Mr. Mike Poon, Chief Executive Officer of CALC said, “Despite the aviation industry has been affected by the pandemic this year, CALC has added to the diversity of its financing products through the issuance of perpetual capital securities and hence further optimized its capital structure. With its flexible operating strategies, quality airline customers and highly liquid aircraft asset, the Group has not only won long-term support and recognition from investors, but also laid the foundation for enhancing its financial strength and tapping opportunities from the imminent market recovery."

CALC has committed to improving its liquidity and prudently exploring new businesses, in order to achieve long- term sustainable development. Faced with market volatilities this year, CALC has actively utilized the flexibility of its unique PRC and overseas dual platforms of operation, financing and aircraft trading. In March and June, the Group completed the issuances of RMB1.3 billion debentures in aggregate in the Chinese market at relatively attractive interest rates. In November, the Group also completed a US$70 million senior bond issue in the overseas market. In addition, the listed entity of the Group has also received the highest AAA credit rating from Dagong Global Credit Rating Co., Ltd. in August, an accolade conducive to future financings in the Chinese market. It is generally anticipated that with the deployment of vaccines for Covid-19, the aviation industry will gradually recover. The International Air Transport Association has also pointed out that China will become the world's largest single aviation market in 2025, which shows that China's civil aviation market has a huge potential and promising prospect.