AVIC’s subsidiaries list $3.5 billion securities program

By William Gullotti

Buffalo, N.Y., Nov. 9 – China-based AVIC International Leasing Co., Ltd.’s Soar Wise Ltd. and Soar Wind Ltd. units listed a new $3.5 billion medium-term note and perpetual capital securities program (Baa1//A-) on Wednesday, according to a listing notice with an appended offering circular on Thursday.

Program offerings will be issued by the subsidiaries and guaranteed by AVIC.

Agricultural Bank of China Ltd., Hong Kong Branch, Bank of China, BNP Paribas, DBS Bank Ltd., Haitong International, ICBC International, ICBC (Asia) and Shanghai Pudong Development Bank Hong Kong Branch are the arrangers and dealers.

DB Trustees (Hong Kong) Ltd. is the trustee.

Deacons, Dacheng and Maples and Calder (Hong Kong) LLP are legal advisers to the issuers and guarantor. Linklaters and King & Wood Mallesons are counsel for the dealers.

The 12-month Regulation S program became effective on Nov. 8 and was listed on the Hong Kong Exchange.

Based in Shanghai, AVIC leases aircraft, aviation products, ships, locomotives, plant scale equipment, electrical equipment, communication equipment and other equipment. The program issuers are wholly owned subsidiaries of AVIC, incorporated as special purpose entities in the Cayman Islands. Soar Wind was incorporated June 29.

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