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Fitch: BOC Aviation to issue US$350M of senior notes

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Fitch: BOC Aviation to issue US$350M of senior notes

Singapore-based BOC Aviation Ltd. plans to issue US$350 million worth of senior unsecured notes due May 21, 2025, Fitch Ratings said May 15.

The notes will pay out 1.3% over the three-month London Interbank Offered Rate and will be issued under the company's US$10 billion global medium-term note program.

Proceeds from the issuance will be used for capital expenditure, general corporate purposes, as well as to refinance existing borrowings, the rating agency said.

BOC Aviation is an aircraft operating leasing unit of Bank of China Ltd.