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Four banks finance CSA
01 December 2005
Four banks were involved in the financing of the recently concluded lease between China Southern Airlines (CSA) and Singapore Aircraft Leasing Enterprise (Sale).
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Japanese operating lease
Airlines
operating lease
airline
Four banks were involved in the financing of the recently concluded lease between China Southern Airlines (CSA) and Singapore Aircraft Leasing Enterprise (Sale). Five A320s will be leased to the Chinese carrier, with delivery scheduled for the first half of 2006. The lease terms are 11 years and eight months, but can be extended. The leases, which are being booked through Sale's subsidiary in Ireland, are Sale's largest bulk placement to date and also its first with China Southern.
DBS, OCBC and Maybank will finance one aircraft each; HSBC will finance two. One banker reports that pricing for one of the loans came in at about Libor plus 45 basis points (bps), with other loans priced at Libor plus 65bps.
Deka Bank has joined the 12-year $36 million commercial debt financing for an A319 owned by Sale earlier in the year. ING Bank was co-arranger for the transaction. nThe industry...
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