Hong Kong, 13 December, 2004 – LAWFUEL – First with law news – Baker & McKenzie’s aircraft financing team in Hong Kong recently advised China Eastern, as borrower, on the US$90 million unsecured loan facility arranged through six foreign lenders. The loan documentation was signed on 24 November, 2004.
China Eastern, one of China’s three major airline groups, will partially use the loan proceeds to purchase new aircraft as part of its ongoing re-fleeting programme. This is also the first time that China Eastern has borrowed directly from foreign banks.
The Baker & McKenzie team was led by partner, Harvey Lau, and assisted by Yu Yuen Wong, an associate in the aircraft finance team.
The Firm’s experience in the China aviation sector is second to none having represented most of the airlines in China for many years, including the big three airline groups and, having been involved in more than 400 aircraft leasing and financing transactions.