On March 27, a project company set up by AVIC International Leasing Co., Ltd. within Dongjiang Free Trade Port Zone of Tianjin, Export Development Canada, Canada Bombardier Commercial Aircraft and China Express Airlines completed the offshore finance lease for two Bombardier CRJ900 aircrafts. Shanghai-based senior partners Wu Jingjing and Li Yingchun provided PRC legal counsel for AVIC International Leasing Co., Ltd. and its project company.
This is the first time a domestic lease platform provides direct finance for an offshore, state-level export credit institution. By fully exploiting policies and innovating deal structure, the transaction ushers in a new model of offshore direct finance and sets a successful example for China’s aircraft lease companies for opening up offshore finance channels and entering the global capital market.
The transaction involved multiple jurisdictions across 24 time zones, including China, Britain, New York, Canada and Ireland. Moreover, the matter was handled 24/7 on a global basis. This required the attorneys’ expertise and timely response. The Dacheng team worked closely with AVIC International Leasing Co., Ltd., Export Development Canada, Bombardier, China Express Airlines, and the management committee of Dongjiang Free Trade Port Zone of Tianjin as well as attorneys in and outside China. Their expertise and sense of responsibility was praised by the client and other peers.
Beijing Dacheng Law Offices, LLP ("大成") is an independent law firm, and not a member or affiliate of Dentons. 大成 is a partnership law firm organized under the laws of the People’s Republic of China, and is Dentons' Preferred Law Firm in China, with offices in more than 50 locations throughout China. Dentons Group (a Swiss Verein) ("Dentons") is a separate international law firm with members and affiliates in more than 160 locations around the world, including Hong Kong SAR, China. For more information, please see dacheng.com/legal-notices or dentons.com/legal-notices.
