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Loan for Acquisition of Aircraft Leasing Company by SMBC Aviation Capital Limited under Auspices of Sumitomo Mitsui Finance and Leasing Company, Limited
Supporting Overseas M&A of Japanese Company

  • Region: Europe
  • Marine and Aerospace
  • Others
  • Overseas Investment Loans
February 14, 2023
  1. The Japan Bank for International Cooperation (JBIC; Governor: HAYASHI Nobumitsu) signed on December 28, 2022, a loan agreement amounting to USD2,000 million (JBIC portion) with Sumitomo Mitsui Finance and Leasing Company, Limited (SMFL), and signed on February 13 two loan agreements with Mizuho Bank, Ltd. (Mizuho Bank) and MUFG Bank, Ltd. (MUFG Bank), each amounting to USD300 million (JBIC portion). These three loans are intended to finance part of the funds necessary for SMBC Aviation Capital Limited (SMBCAC) of Ireland, which is under the auspices of SMFL, to acquire Goshawk Management Limited (GML) of Ireland.
      
  2. The loan to SMFL is co-financed with other entities including Sumitomo Mitsui Banking Corporation, and those to Mizuho Bank and MUFG Bank are based on the general agreements of the M&A credit line JBIC signed with these private financial institutions.
      
  3. GML is an Ireland-based, independent aircraft leasing company whose aircraft lease portfolio consists mostly of highly liquid narrowbody aircraft*1. By acquiring the entire shareholding in GML, SMBCAC aims to expand its business and grasp more profit-earning opportunities with an enlarged fleet under its ownership and management and a new customer base. These loans, which provide the long-term foreign currency funds necessary for the overseas M&A by the SMFL group company, financially support the overseas business expansion of the Japanese company, thereby contributing toward maintaining and strengthening the international competitiveness of the Japanese aircraft leasing industry.
      
  4. As Japan's policy-based financial institution, JBIC will continue to actively provide financial support for overseas M&A activities of Japanese companies and their overseas business expansion in collaboration with private financial institutions.
      
Note
  1. *1 
    Narrowbody aircraft are single-aisle aircraft that seat 100 to 200 passengers.

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