China Bank Provides $8B Financing for Bombardier Jets

Bombardier Aerospace late last week signed a memorandum of understanding with ICBC Financial Leasing, a wholly owned subsidiary of Industrial and Commercial Bank of China, to provide up to $8 billion in financing for its Learjet, Challenger and Global business jets. The agreement allows ICBC to provide Bombardier customers with advance payment financing, delivery financing and leasing solutions. The deal also covers financing for maintenance, service and production at Bombardier Aerospace's current and potential subsidiaries and affiliates.