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China Bank Capital helps Cebu Pacific acquire new Airbus A330-300 with P4 billion loan facility

Thursday, March 02, 2017

China Bank Capital helps Cebu Pacific acquire new Airbus A330-300 with P4 billion loan facility

China Bank Capital Corporation, a wholly-owned subsidiary of China Banking Corporation (China Bank), was appointed by Cebu Air, Inc. (Cebu Pacific) to be its lead arranger and bookrunner for a four-billion-peso secured term loan facility to finance the purchase of a new Airbus A330-300 as part of its fleet expansion project. This is the first A330-300 wholly owned by Cebu Air. Notably, this is also the first time the airline company has used an all-Peso loan facility for aircraft financing. This Airbus A330-300 is the fifth aircraft that China Bank has financed for Cebu Air and the eighth for airline companies in the Philippines, making the bank one of the biggest local players in aviation financing. Present at the signing ceremony were China Bank COO William Whang (6th from right), China Bank Head of Investment Banking Virgilio Chua (7th from left), and Cebu Air CFO Andrew Huang (seventh from right), along with officers from both institutions.

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