China Development Bank grants Embraer loan of US$2.2 billion

15 December 2009

Sao Paulo, Brazil, 15 Dec – The China Development Bank (CDB) Leasing and Brazilian aircraft manufacturer Embraer signed a memorandum of understanding through which the Chinese bank will provide a loan of at least US$2.2 billion to the Brazilian company.

The memorandum was signed Friday and will make it possible for Embraer to provide loans to parties interested in acquiring aircraft over a three-year period.

The agreement aims to increase opportunities to acquire aircraft from Embraer, “focused on the development of regional aviation in China,” according to a statement from the Brazilian company.

The memorandum of understanding was signed between CDB Leasing, with headquarters in Shenzhen, the biggest of the bank’s leasing companies and one of the most important international institutions for financing aviation.

The agreement offers financial options for the region’s airlines, and CDB “may also consider acquiring aircraft” for future leasing opportunities. (macauhub)