CALC closes second unsecured dollar bond

Skip to:

China Aircraft Leasing Corporation (CALC) has closed its new five-year dollar-denominated bond – CALC Bond 2. Structured via joint bookrunners DBS and China Everbright Bank, a large portion of the proceeds from the $300 million of unrated corporate notes are earmarked for new aircraft acquisitions and construction of an aircraft disassembly plant in Harbin.

The issue was heavily oversubscribed pulling in offers of $1.2 billion. Around 93% of the bonds were bought by Asian investors. The deal pays a coupon of 4.9%.