SINGAPORE - Singapore-based BOC Aviation has extended a US$2 billion (S$2.71 billion) revolving credit facility with the Bank of China to year 2022.
The extension, through a restated agreement, replaces two existing revolving credit facilities of US$1 billion each, with maturity dates of December 2017 and April 2019, a company release stated on Wednesday.
"With our strong access to the debt capital markets and bank financing market, and the extension of our revolving credit facilities with Bank of China, we are well positioned to continue our disciplined growth strategy," BOC Aviation managing director and chief executive Mr Robert Martin said.
BOC Aviation is a global aircraft leasing company with a portfolio of 251 owned and managed aircraft operated by 60 airlines worldwide in 30 countries. It has one of the youngest fleets in the industry with an average owned aircraft age of less than four years.
BOC Aviation has offices in Dublin, London, Seattle and Tianjin.