BOC AVIATION PRICES OFFSHORE RMB1.5 BILLION IN 4-YEAR FIXED RATE SENIOR UNSECURED NOTES

BOC Aviation Pte. Ltd. (“BOC Aviation”) has priced RMB1.5 billion in 4-year fixed rate senior unsecured notes (the “Notes”) at a coupon of 4.2% per annum. The Notes will close on 5 November 2014, subject to satisfaction of customary closing conditions.

The transaction was issued off BOC Aviation’s US$5 billion Euro Medium Term Note Programme and was jointly arranged by BOC International and the Hongkong and Shanghai Banking Corporation Limited.

The Notes are denominated in offshore Chinese RMB and will bear a fixed interest coupon of 4.2% per annum with interest payable semi-annually in arrears. BOC Aviation will apply the net proceeds to fund its new capital expenditure, for general corporate purposes and/or refinancing existing borrowings.

The Notes will be listed on the SGX-ST, and will be rated BBB- by Standard & Poor’s Rating Services, and A- by Fitch Ratings.

Orders for the Notes totaled RMB4.5 billion and were received from 99 accounts. In terms of allocation, 46% of the Notes will go to asset managers and fund managers, 23% to insurers, 20% to private banks and 11% to banks.

BOC Aviation is the leading Asia-based aircraft leasing company with a portfolio of 248 owned and managed aircraft operated by 58 airlines worldwide, and another 194 aircraft on firm order, as of 30 September 2014. The Company has one of the youngest fleets in the industry with an average owned aircraft age of less than four years.

BOC Aviation, owned by Bank of China, is headquartered in Singapore with offices in Dublin, London and Seattle.