DUBLIN – April 3, 2024 – CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd. (“CDB Leasing”), announced today that the lessor executed a new Sustainability Linked Loan (“SLL”) transaction on March 26, 2024, anchored with a $506 million unsecured term loan facility.

The new facility is the second SLL-type transaction for the lessor, following the issuance of its inaugural sustainability-linked syndicated term loan in December 2023.

The facility was financed by a group of MLA banks, including: Bank of China (Hong Kong) Limited, China CITIC Bank International Limited, Bank of Communications Co., Ltd, Sydney Branch, Bank of Communications Co., Ltd, Tokyo Branch, Bank of Communications (Hong Kong) Limited, Agricultural Bank of China Limited London Branch, The Bank of East Asia, Limited, Industrial and Commercial Bank of China Limited London Branch, Shanghai Pudong Development Bank Co., Ltd, acting through its Hong Kong Branch, Shanghai Pudong Development Bank Co., Ltd., London Branch, and China Construction Bank Corporation London Branch.

Bank of China Hong Kong acted as Facility Agent and Credit Agricole as Sole Sustainability Agent.

“Thank you to the Capital Markets, Deal, Legal, Finance, and ESG teams for successfully executing this second sustainability-linked transaction,” stated Jie Chen, CDB Aviation’s Chief Executive Officer. “We’re continuing to build on our platform’s robust ability to engage global financial institutions to diversify our financing sources, while advancing our sustainability strategy and broadening relationships within the banking and capital market sectors.”

Similar to the inaugural facility, the SLL parameters are contingent on the satisfaction of Sustainability Performance Targets (“SPTs”), based on the lessor’s three Key Performance Indicators (“KPIs”), including two strong Environmental and one Social KPIs related to:

• reducing the carbon intensity of the CDB Aviation’s fleet, focusing on the most fuel-efficient aircraft;
• increasing the share of new generation aircraft in the lessor’s fleet, pursuing its target to reach 60% of new generation aircraft (by number of aircraft) by the end of 2025; and
• increasing the level of Diversity, Equity, and Inclusion (“DEI”)-related training for the workforce.

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