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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) (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.
Embraer (Empresa Brasileira de Aeronáutica S.A. - NYSE: ERJ; BM&FBovespa: EMBR3) is the world’s largest manufacturer of commercial jets up to 120 seats, and one of Brazil’s leading exporters. Embraer’s headquarters are located in São José dos Campos, São Paulo, and it has offices, industrial operations and customer service facilities in Brazil, China, France, Portugal, Singapore, and the United States. Founded in 1969, the Company designs, develops, manufactures and sells aircraft for the commercial aviation, executive aviation, and defense segments. The Company also provides after sales support and services to customers worldwide. On September 30, 2009, Embraer (embraer.com) had a workforce of 16,986 employees – not counting the employees of its partly owned subsidiaries – and its firm order backlog totaled US$ 18.6 billion.
This document may contain projections, statements and estimates regarding circumstances or events yet to take place. Those projections and estimates are based largely on current expectations, forecasts on future events and financial tendencies that affect Embraer’s businesses. Those estimates are subject to risks, uncertainties and suppositions that include, among others: general economic, political and trade conditions in Brazil and in those markets where Embraer does business; expectations on industry trends; the Company’s investment plans; its capacity to develop and deliver products on the dates previously agreed upon, and existing and future governmental regulations. The words “believe”, “may”, “is able”, “will be able”, “intend”, “continue”, “anticipate”, “expect” and other similar terms are supposed to identify potentialities. Embraer does not feel compelled to publish updates nor to revise any estimates due to new information, future events or any other facts. In view of the inherent risks and uncertainties, such estimates, events and circumstances may not take place. The actual results can therefore differ substantially from those previously published as Embraer expectations.
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