BOC Aviation prices offshore RMB bond

Asia's largest airplane leasing company, BOC Aviation Pte Ltd, has priced its first offshore RMB-denominated bond and the coupon on the five-year unsecured notes of 1 billion yuan ($164 million) is 4.5 percent per annum, the company released on Thursday.

The transaction was jointly arranged by BOC International, HSBC and Standard Chartered Bank, the leasing company, which is a 100-percent subsidiary of Bank of China, said.

The unsecured notes will be listed on SGX-ST and will be rated A- by Fitch Ratings and BBB- by Standard & Poor's Ratings Services.

The notes will close on Nov 20, subject to customary closing conditions.

BOC Aviation owns and manages 234 aircraft operated by over 50 airlines globally and also has another 101 aircraft on firm order.