OCTOBER 16TH, 2015

BOC Aviation Announces Agreement to Sell 24 Aircraft

BOC Aviation Pte. Ltd. (“BOC Aviation”) announced that it signed an agreement to sell a portfolio of 24 aircraft to Shenton Aircraft Investment I Ltd. and affiliates (“SHNTN 2015- 1”).

To finance a portion of the purchase of the aircraft portfolio, SHNTN 2015-1 has issued two tranches of notes, comprising US$747.4 million of 4.75% Series A notes (A, Standard & Poor’s / Fitch Ratings) and US$60.5 million of 5.75% Series B notes (BBB, Standard & Poor’s / Fitch Ratings). The source of repayment for the notes will be limited to the aircraft portfolio, the leases and related collateral. A third-party institutional investor acquired 100% of the equity interest via a private placement.

The notes are backed by the 24 aircraft to be acquired from BOC Aviation. These commercial jet aircraft are currently on lease to 21 airlines in 18 countries, including 11 Airbus A320 family aircraft, seven Boeing 737NG aircraft and two Embraer E190 aircraft, two Airbus A330 aircraft and two Boeing 777s. The portfolio has a weighted average age of 4.6 years and weighted average remaining lease term of 5.7 years, based on weighted average appraised values.

BOC Aviation, with more than 21 years of aircraft leasing experience, will continue to manage the portfolio going forward.

BOC Aviation is a leading global aircraft leasing company with a portfolio of 253 owned and managed aircraft operated by 59 airlines worldwide in 29 countries, with commitments to acquire 203 aircraft, as of 30 September 2015. BOC Aviation, owned by Bank of China, is based in Singapore with offices in Dublin, London, Seattle and Tianjin.