Embraer inks $2.2-billion deal with China’s CDB Leasing
14 Dec 2009
Brazil's Embraer, the world's fourth-largest aircraft manufacturer has signed an agreement with CDB Leasing Co Ltd (CLC), a major financial leasing company held by China Development Bank, for up to $2.2 billion in aircraft financing over a period of three years.
The deal was designed to enhance financing opportunities for acquiring Embraer aircraft in China and abroad, focusing on developing regional aviation in China.
Besides aircraft financing and portfolio management, CLC would also provide financial solutions that better suit the airline's needs and may purchase aircraft directly from Embraer for future leasing, the company said in a statement.
Shenzhen-based CLC is a major state-owned international aviation financing institution, which is also engaged in leasing of large equipment and high-tech facilities. With registered capital of 8 billion yuan, CLC ranks as China's largest financial leasing company, in terms of capital and total assets. CLC has granted leases for more than 40 aircraft, according to the statement.
Embraer senior vice president, sales financing, Paulo César Silva, said, ''We are proud to sign this memorandum with one of the world's most important financial institutions. Our agreement with CLC entails the expertise, skills and reputation of a global bank to support our customers in China and the worldwide regional aviation market with unparalleled quality and creativity.''
CLC vice president Wu Rongyang said that Embraer is an important global strategic partner of CLC and the company is looking forward to closer cooperation with the aircraft maker in the global market.
