Embraer signs agreement with China’s CDB Leasing Co. Ltd.
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Memorandum of Understanding establishes bases for aircraft financing
São José dos Campos, December 10, 2009 – Embraer and CDB Leasing Co., Ltd.(CLC), headquartered in Shenzhen, People’s Republic of China, signed a Memorandum of Understanding (MoU). This agreement for aircraft financing and leasing could come to as much as US$ 2.2 billion over the next three years.
CLC is the major financial leasing company held by the China Development Bank (CDB), and one of the most important international aviation financing institutions. CDB is a stateowned financial institution that maintains the same credit rating as the Government of China.
The deal is designed to enhance financing opportunities for acquiring Embraer aircraft in the People’s Republic of China and abroad, focusing on developing regional aviation in China.
“We are proud to sign this Memorandum with one of the world’s most important financial institutions,” said Paulo César Silva, Embraer Senior Vice President, Sales Financing. “Our agreement with CDB Leasing 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.”
Besides sharing experience in aircraft financing and portfolio management, CDB Leasing will provide financial solutions that better suit the airlines’ needs. The company may also consider purchasing aircraft directly from Embraer for future leasing opportunities. In any case, Embraer will indicate prospective customers to CDB Leasing, at its discretion, and will provide the specified customer assessment.
“Embraer is an important global strategic partner of CDB Leasing. We are looking forward to closer cooperation with Embraer in the global market. CDB Leasing will provide Embraer with comprehensive and high-quality financial services,” said Wu Rongyang, Vice President of CDB Leasing Co., Ltd.
About CDB Leasing
CDB Leasing Co., Ltd. (CLC) (www.cdb-leasing.com), whose predecessor was Shenzhen Financial Leasing Co., Ltd., had been restructured as a non-bank financial institution by the China Development Bank (CDB) with more capital input under the approval of the China Banking Regulatory Commission. With registered capital of 8 billion RMB, CLC ranks as China’s largest financial leasing company, in terms of registered capital and total assets. After a decade in the industry, CLC has built an expert and innovative professional team of more
than 100 dedicated employees.
As the first Chinese company to enter the domestic aviation leasing market, CLC has accumulated abundant experience and established its reputation, breaking the long-time foreign domination of the Chinese aviation leasing market. To date, CLC has granted leases for more than 40 aircraft.
By closely following CDB’s strategic “Go Global” policy, CLC has provided leasing
solutions for exporting large equipment made in China, benefiting from CDB’s global deployment. The company has endeavored to improve its competitiveness in resources, brands, services, management, and culture by focusing on its core business and building a top financial company that is a domestic leader and is well known internationally, with manageable risks, quality assets and sustainable return.
Source: EMBRAER
