BOC Aviation issues US$750m senior unsecured notes

BOC Aviation has issued US$750 million worth of 10-year senior unsecured notes under its US$5 billion global medium term note programme.

The joint bookrunners for the issue were BOC International, Citigroup, Goldman Sachs, HSBC, JP Morgan, Morgan Stanley, BNP Paribas and Wells Fargo Securities.

The notes bear a fixed interest coupon of 3.875 per cent per annum with interest payable semi-annually in arrears.

There was strong interest from institutional funds, pension funds and insurers with orders in excess of US$3.2 billion, BOC Aviation said.

BOC Aviation will use the net proceeds to fund capital expenditure, refinance existing borrowings or for general corporate purposes.