BOC Aviation ( BOC ), one of the ­­world’s biggest aircraft leasing companies, has secured a US$1.5 billion term loan from a syndicate of 21 international banks – marking the largest self-arranged loan in the company’s history – and has placed orders for 120 aircraft from manufacturers Europe-based Airbus and US-based Boeing.

The five-year facility, which includes financing for both BOC and its Irish subsidiary, was oversubscribed and adds three new lenders to the company’s existing group of financial partners.

Singapore’s DBS Bank served as global coordinator and documentation agent, while HSBC Singapore acted as facility agent for the loan.

Proceeds from the loan, BOC says, will be used for general working capital, capital expenditures and refinancing of existing debt.

“The support we have received from our panel of banking partners, both current and new,” says Chan Mui Sin, the lessor’s head of treasury, “has enabled us to complete the transaction at highly competitive pricing.”

This latest transaction surpasses the company’s previous record of a US$1.375 billion loan completed in October 2023.

BOC is headquartered in Singapore and listed on the Hong Kong Stock Exchange. As of December 31 2024, it owned, managed or had on order more than 800 aircraft and engines, which were leased to 92 airlines.

Aircraft orders

Following the loan announcement, BOC disclosed the two separate aircraft purchase agreements with Airbus and Boeing for the 120 single-aisle jets.

The company confirmed an order for 70 Airbus A320NEO family aircraft, which increases the company’s total Airbus aircraft deliveries to over 700 since 1996 and raises its remaining Airbus orderbook to approximately 200 aircraft.

The agreement supports the company’s long-term delivery pipeline, says Steven Townend, the lessor CEO, and strengthens its position among the largest aircraft lessors globally.

BOC also announced the purchase of 50 Boeing 737-8 aircraft. The deal brings its total commitments for this aircraft type to more than 140 units, the largest Boeing orderbook position in the company’s history.

The orders, Townend adds, align with the company’s strategy of offering fuel-efficient aircraft to meet ongoing airline demand.