Bombardier and ICBC sign MoU
Bombardier and ICBC sign MoU for up to US$8 billion
Bombardier Aerospace has
announced that it has signed a memorandum of understanding (MOU) with ICBC
Financial Leasing Co (ICBC Leasing).
The agreement allows ICBC
Leasing to provide Bombardier’s customers with advance payment financing, delivery
financing and leasing solutions for Q-Series, CRJ Series and CSeries commercial
aircraft, as well as Learjet, Challenger and Global business jet aircraft. The
capital available from ICBC Leasing totals up to US$8
billion, for both domestic and international transactions.
The MOU also covers
financing for Bombardier Aerospace, as well as its current and potential future
subsidiaries and affiliates, in the areas of maintenance, service and
production, and allows ICBC Leasing to provide Bombardier Aerospace with credit
facilities, hedging and settlement services for general requirements through
affiliates of ICBC.