50 SKY SHADES - World aviation news

CALC Closes First Ever JOLCO

Download: Printable PDF Date: 20 Jul 2016 14:38 category:
CALC Closes First Ever JOLCO - Finance publisher
Tatjana Obrazcova
Country: China Aircraft: Airplanes

China Aircraft Leasing Group Holdings Limited (“CALC” or the “Group”, stock code: 01848.HK), the largest independent operating aircraft lessor in China, has closed its first Japanese Operating Lease with a Call Option (“JOLCO”) financing related to two new Airbus A320 delivered to Pegasus Airlines in June.

Asset Brok’Air acted as transaction arranger and JOLCO arranger while CACIB was debt arranger.

This innovative transaction is the first time a JOLCO has been used to finance equity on a lessor for leases to an airline in Turkey. It is the result of many months of structuring work combining the experience and skills of Pegasus Airlines, Asset Brok’Air, CACIB and CALC with the help of Watson Farley & Williams LLP, K&L Gates, Clifford Chance, Bezen Partners, A&L Goodbody, AK Denetim, Price Waterhouse Coopers Ltd.

Christian Mc Cormick, Managing Director Finance of CALC commented, “We are glad to have tapped the JOLCO market to further support our global business expansion strategies. CALC has gained a wide experience in different financing alternatives in the international market this year, including the launch of our debut syndicated loan and entering into the international bond market. We have also completed realization of finance lease receivables for another four aircraft last month. With our strength in transferring risk, lowering financial leverage and enhancing cash inflow, CALC is capable of providing more value-added full value-chain aircraft solutions to its airline customers. We will continue to explore financing alternatives with high agility in the capital market in order to expand our fleet at a sustainable and accelerated pace, while maintaining a lower financing cost.”

Loading comments for CALC Closes First Ever JOLCO...


Rolls-Royce obtains final approval for acquisition of ITP

Rolls-Royce has obtained the approval of all the relevant authorities for the acquisition of the outstanding 53.1% shareholding in Industria de Turbo Propulsores SA (“ITP”) owned by SENER...

airBalticTraining Pilot Academy Opens Application Process

The Latvian airline airBaltic today, on December 11, 2017, opens application process for candidates to the airline’s newly established Pilot Academy at airBalticTraining. Persons selected will b...

Airbus Helicopters continues industrial transformation with Paris-Le Bourget blades site

On 1 December 2017, Airbus Helicopters celebrated the inauguration of its Paris-Le Bourget site, where  helicopter blades are now being produced for the Airbus range. The blade-specific specialis...

Falcon Aviation celebrates first year at Dubai South FBO with IS-BAH Accreditation

Falcon Aviation is celebrating the completion of its first anniversary at its FBO in the VIP Terminal at Al Maktoum International Airport (Dubai South) with the news that it has been awarded Internati...