1. The Japan Bank for International Cooperation (JBIC; Governor: MAEDA Tadashi) signed today a loan agreement amounting to up to USD100 million (JBIC portion) with Sumitomo Mitsui Finance and Leasing Company, Limited (SMFL). The loan is co-financed with Sumitomo Mitsui Banking Corporation, bringing the total co-financing amount to USD167 million.
  2. The loan is intended to finance, through SMFL, the funds necessary for SMBC Aero Engine Lease B.V. (SAEL), which is a Dutch company under the auspices of SMFL, to conduct aircraft engine leasing business in multiple countries including the Netherlands.
  3. SMFL aims to capture the aircraft and aircraft engine lease demand, which is expected to grow in the medium to long term, through collaboration between Irish aircraft leasing company SMBC Aviation Capital Limited*1 (SMBCAC) and the aircraft engine leasing company SAEL, which SMFL regards as its important subsidiaries. The loan will support the Japanese company’s overseas business expansion, thereby contributing toward maintaining and improving the international competitiveness of Japanese industry.
  4. As Japan’s policy-based financial institution, JBIC will continue to provide financial support to assist Japanese companies in the overseas expansion of their businesses by drawing on its various financial facilities and schemes for structuring projects and by performing its risk-assuming function.