UPDATE 3: Bohai Leasing’s $1B Secured Loan Underwritten by RRJ; Loan Signed, Funding Set for Aug. 28; Lenders Include RRJ, Barclays, Deutsche Bank, MBK, Nomura

Tue Aug 27, 2024 05:01 AM ET: Allocations have been finalized for the $1 billion secured loan for Chinese aircraft and container lessor Bohai Leasing, which was underwritten by RRJ Capital, said three sources close to the matter. Funding is scheduled for tomorrow, Aug. 28, the sources said. The loan is to part repay Bohai subsidiary Global Aircraft Leasing’s $2 billion offshore notes due September, as reported. RRJ Capital is set to provide $600 million to $700 million for the secured loan, said two of the sources, while other lenders include Barclays, Deutsche Bank, MBK Partners and Nomura, said all three sources. Bohai Leasing announced to the Shenzhen Stock Exchange on Aug. 14 that on Aug. 11, its subsidiaries had entered into an agreement with lenders for the $1 billion secured loan. As part of the agreement, Bohai’s wholly owned subsidiary Hong Kong Bohai Leasing Asset Management Co. Ltd. and Hong Kong Bohai’s wholly owned subsidiary Global Sea Containers Two Ltd., or GSCTL, entered into a facility agreement with Erica Asset Holding Ltd. and Hampton Asset Holding Ltd., pursuant to which borrower GSCTL would apply for a $1 billion loan with the two lenders. The loan, with an initial 364-day tenor,[...]