CDB Aviation Issues $500 Million Senior Unsecured Notes

via Business Wire

Issuance Further Enhances Lessor’s Diversified Capital Structure

CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd. (“CDB Leasing”), announced today that its wholly owned subsidiary, CDBL FUNDING 1, successfully priced a single-tranche offering of senior unsecured notes (“Notes”) totaling US$500 million on February 4, 2026.

The Notes were issued under its US$3 Billion Medium Term Note Program, which is rated A2 by Moody’s and A by Fitch, in Regulation S format and with the full support of its guarantor, CDB Aviation, and the keepwell and asset purchase deed provider, CDB Leasing.

The 5-year fixed rate Notes were priced at T5 + 50bps, bearing a 4.25% coupon, representing a 45bps tightening from the initial price guidance (“IPG”).

The transaction generated strong demand from a broad base of global investors, with the order book peaking at over US$2.36 billion from around 100 institutional accounts.

“This marks another resounding success following CDB Aviation’s return to the international bond market in 2025,” commented Jie Chen, Chief Executive Officer of CDB Aviation. “The issuance reflects our ongoing efforts to optimize our capital structure and enhance our competitiveness, underscoring the CDB Aviation team’s unwavering commitment to our long‑term vision.”

The deal was jointly led by a consortium of leading global financial institutions. Standard Chartered Bank, China CITIC Bank International, HSBC, Goldman Sachs (Asia) L.L.C., Bank of Communications, and China Securities International as the Joint Global Coordinators, Joint Lead Managers, and Joint Bookrunners. Additional Joint Lead Managers and Bookrunners included Bank of China Limited, Shanghai Pudong Development Bank Hong Kong Branch, Industrial Bank Co., Ltd. Hong Kong Branch, Deutsche Bank, and Huaxia Bank Co. Limited Hong Kong Branch.

Forward-Looking Statements

This press release contains certain forward-looking statements, beliefs or opinions, including with respect to CDB Aviation’s business, financial condition, results of operations or plans. CDB Aviation cautions readers that no forward-looking statement is a guarantee of future performance and that actual results or other financial condition or performance measures could differ materially from those contained in the forward-looking statements. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements sometimes use words such as ”may,” “will,” “seek,” “continue,” “aim,” “anticipate,” “target,” “projected,” “expect,” “estimate,” “intend,” “plan,” “goal,” “believe,” “achieve” or other terminology or words of similar meaning. These statements are based on the current beliefs and expectations of CDB Aviation’s management and are subject to significant risks and uncertainties. Actual results and outcomes may differ materially from those expressed in the forward-looking statements. Accordingly, you should not rely upon forward-looking statements as a prediction of actual results and we do not assume any responsibility for the accuracy or completeness of any of these forward-looking statements. Except as required by applicable law, we do not undertake any obligation to, and will not, update any forward-looking statements, whether as a result of new information, future events or otherwise.

About CDB Aviation

CDB Aviation is a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd. (“CDB Leasing”) a 41-year-old Chinese leasing company that is backed mainly by the China Development Bank. CDB Aviation is rated Investment Grade by Moody’s (A2), S&P Global (A), and Fitch (A+). China Development Bank is under the direct jurisdiction of the State Council of China and is one of the world’s largest development finance institutions. It is also the largest Chinese bank for foreign investment and financing cooperation, long-term lending and bond issuance, enjoying Chinese sovereign credit rating.

CDB Leasing is the only leasing arm of the China Development Bank and a leading company in China’s leasing industry that has been engaged in aircraft, infrastructure, ship, commercial vehicle and construction machinery leasing and enjoys a Chinese sovereign credit rating. It took an important step in July 2016 to globalize and marketize its business – listing on the Hong Kong Stock Exchange (HKEX STOCK CODE: 1606). www.CDBAviation.aero

The issuance reflects our ongoing efforts to optimize our capital structure and enhance our competitiveness, underscoring the CDB Aviation team’s unwavering commitment to our long term vision. - Jie Chen, Chief Executive Officer of CDB Aviation

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