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MSFL Attends the Signing Ceremony of EIBC Overseas Financing Concerning Targeted Support for Aircraft Import

Time:2012-12-29 Pageviews: Print Font size:AAA
On Dec. 27, 2012, Wang Rong, Executive Vice President and CFO of Minsheng Financial Leasing Co., Ltd. (MSFL), attended the signing ceremony for overseas financing of targeted support for aircraft import, held by Export-Import Bank of China (EIBC) (on behalf of MSFL) and participated in the interview by CCTV News Centre on behalf of the contracting parties, prior to the ceremony.
The overseas financing of targeted support for aircraft import represents an innovative approach in encouraging foreign investment. It means that EIBC takes advantage of its sovereign rating to borrow medium and long-term U.S. dollar loans overseas and for lending them specifically to leasing companies and airlines to support their purchase of aircraft, thus lowering the enterprise financial costs and enhancing their overall competitiveness. The object of their targeted financing  support programme include four leasing companies, i.e. MSFL, CDB Leasing, BOCOM Leasing, ICBC Leasing, and two airlines. The total loan amounts to $1.39 billion, in which MSFL ranks second with a total sum of $315 million.
This targeted financing programme has been the largest single aviation financing foreign debt indicator since China’s opening up  and reform period began , as well as a major breakthrough for MSFL in terms of the company’s cooperation with EIBC in order to jointly seek the policy support of the National Development and Reform Commission (NDRC). This highlights the positive interaction between the “government, banks and enterprises”, and lays a solid foundation for MSFL and EIBC\'s in-depth expansion in project financing in the corporate aircraft field. Sun Ping, Deputy President of EIBC, Sun Wei, Deputy Director of Foreign Investment Department of NDRC, related leaders from the State Administration for Foreign Exchange, and representatives from more than twenty banks and leasing companies,all attended the signing ceremony.
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