In Brief: Chase Arranging Deal for Chinese Airline

NEW YORK - Chase Manhattan Bank has it received a mandate from China South Airlines to arrange a $290 million financing for the purchase from Boeing Co. of two B777-21B and one B737-300 aircraft, for delivery in November and December.

The financing has three tranches: $190 guaranteed by the Export-Import Bank, $36 million guaranteed by Industrial and Commercial Bank of China, and $64 million in Japanese equity.

The Japanese leveraged lease has 12 years on the B777 aircraft and 10 years on the B737.

Chase is acting as the Ex-Im Bank arranger, underwriter, and the overall security agent. Mitsubishi Bank is the equity arranger, and Dai-Ichi Kangyo Bank is commercial loan arranger, underwriter, and joint equity arranger.

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