dotlah! dotlah!
  • Cities
  • Technology
  • Business
  • Politics
  • Society
  • Science
  • About
Social Links
  • zedreviews.com
  • citi.io
  • aster.cloud
  • liwaiwai.com
  • guzz.co.uk
  • atinatin.com
0 Likes
0 Followers
0 Subscribers
dotlah!
  • Cities
  • Technology
  • Business
  • Politics
  • Society
  • Science
  • About
  • Lah!
  • Technology

ST Engineering’s JV Announces Securitisation Of 30 Aircraft Engines

  • February 24, 2020
Total
0
Shares
0
0
0

ST Engineering announced that Total Engine Asset Management Pte. Ltd. (TEAM), an engine leasing joint venture of its Aerospace arm, has entered into agreements for the sale of 30 aircraft engines using a securitisation structure. This sale will enable the Group to free up capital for future investments including aircraft engines and reduce TEAM’s capital employed.

The transaction comprises a diversified portfolio of 30 aircraft engines that power primarily narrowbody aircraft leased to 13 airlines across 11 countries, with a weighted average remaining lease term of about 6 years. The structure includes about US$257m (approximately S$358m) of fixed rate notes offered in three tranches, and the placement of equity notes. It is anticipated that TEAM will retain 10% of the equity notes while an affiliate of Marubeni Corporation and one or more other investors will purchase the balance, subject to the satisfaction of customary closing and settlement conditions.

Mr Lim Serh Ghee, President of ST Engineering’s Aerospace sector said, “This sale will represent a major milestone for our engine leasing business. It will allow us to lower our capital requirements for continued engine investments, while retaining TEAM’s asset manager role to create value for lessors through our innovative asset management solutions.”

This is ST Engineering’s first securitisation transaction and the first engine-backed securitisation originated by a lessor headquartered in Asia Pacific. The Group will continue to scale up its engine leasing business, one of the growth areas for its Aerospace sector.

This transaction is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year.

The secured notes to be issued by TEAM in the transaction have not been registered under the United States Securities Act of 1933, as amended (the “Securities Act”), and are being offered only to qualified institutional buyers pursuant to Rule 144A under the Securities Act and outside the United States to non-U.S. persons in accordance with Regulation S under the Securities Act. The secured notes may not be sold in the United States absent registration under the Securities Act or pursuant to an applicable exemption from registration requirements under the Securities Act.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

ST Engineering is a global technology, defence and engineering group specialising in the aerospace, electronics, land systems and marine sectors. The Group employs about 22,000 people across offices in Asia, the Americas, Europe and the Middle East, serving customers in the defence, government and commercial segments in more than 100 countries. With more than 700 smart city projects across 130 cities in its track record, the Group continues to help transform cities through its suite of Smart Mobility, Smart Security and Smart Environment solutions. Headquartered in Singapore, ST Engineering reported revenue of $6.7b in FY2018 and it ranks among the largest companies listed on the Singapore Exchange. It is a component stock of the FTSE Straits Times Index, MSCI Singapore, SGX ESG Transparency Index and SGX ESG Leaders Index.

The Aerospace sector provides integrated aerospace services and solutions through a global network of facilities and affiliates in the Americas, Asia Pacific and Europe, supporting a broad customer base that comprises leading airlines, airfreight operators and armed forces. Its wide spectrum of maintenance and engineering solutions include airframe, engine and component maintenance, repair and overhaul; engineering design and technical services; as well as aviation materials and asset management services. The sector also has original equipment manufacturing businesses and holds proprietary designs in products such as aircraft seats. For more information, please visit www.stengg.com.

Total
0
Shares
Share
Tweet
Share
Share
Related Topics
  • Aircraft Engines
  • Security
  • ST Engineering
  • Total Engine Asset Management Pte. Ltd.
dotlah.com

Previous Article
  • Lah!
  • Society

SUTD Introduces New Grant To Defray The Cost Of Education

  • February 24, 2020
View Post
Next Article
  • Lah!

SGX Launches Methanol Futures And Swap Contracts

  • February 24, 2020
View Post
You May Also Like
View Post
  • Cities
  • Technology

Meralco PowerGen’s PacificLight starts up 100 MW fast-response plant in Singapore

  • dotlah.com
  • June 20, 2025
View Post
  • Technology

Apple services deliver powerful features and intelligent updates to users this autumn

  • Dean Marc
  • June 12, 2025
View Post
  • Artificial Intelligence
  • Machine Learning
  • Technology

Apple supercharges its tools and technologies for developers to foster creativity, innovation, and design

  • Dean Marc
  • June 11, 2025
View Post
  • Technology
  • Working Life

It’s time to stop debating whether AI is genuinely intelligent and focus on making it work for society

  • dotlah.com
  • June 8, 2025
oracle-ibm
View Post
  • Artificial Intelligence
  • Technology

IBM and Oracle Expand Partnership to Advance Agentic AI and Hybrid Cloud

  • Dean Marc
  • May 6, 2025
View Post
  • Software
  • Technology

Canonical Releases Ubuntu 25.04 Plucky Puffin

  • Dean Marc
  • April 17, 2025
View Post
  • Artificial Intelligence
  • Technology

Tokyo Electron and IBM Renew Collaboration for Advanced Semiconductor Technology

  • Dean Marc
  • April 2, 2025
View Post
  • Lah!

Tariffs, Trump, and Other Things That Start With T – They’re Not The Problem, It’s How We Use Them

  • John Francis
  • March 25, 2025


Trending
  • 1
    • Cities
    How Can Urban Farming Feed The World?
    • June 16, 2020
  • 2
    • Lah!
    Two Historic Shipwrecks Discovered In Singapore Territorial Waters, Maritime Archaeological Research Ongoing
    • June 18, 2021
  • 3
    • Cities
    • Scapes
    Top Free Things To Do In London
    • August 10, 2020
  • 4
    • People
    • Science
    • Technology
    Nobel prize in physics awarded for work unveiling the secrets of electrons
    • October 4, 2023
  • Bank notes 5
    • Business
    • Features
    • People
    UK Inflation Rate At Lowest Point Since February 2022
    • August 18, 2023
  • 6
    • Cities
    • People
    2020’s Best And Worst US States For Women
    • March 8, 2020
  • 7
    • Lah!
    Singapore Passport Ranked Most Powerful Again According To Henley & Partners Passport Index
    • July 3, 2019
  • train covid19 commuter 8
    • Cities
    • World Events
    Here’s How To Make Public Transport Safer During COVID-19
    • September 28, 2020
  • 9
    • Lah!
    • Society
    NCID, NUS and NTU Studies Highlight The Role Of Socio-Behavioural Factors In Managing COVID-19
    • May 22, 2020
  • Pride 10
    • People
    The Impact Of Corporate Pride
    • June 23, 2023
  • 11
    • Lah!
    • Society
    Coping With COVID-19: Economic Measures For Companies And Workers
    • February 20, 2020
  • 12
    • Artificial Intelligence
    • People
    • Technology
    Why Some Celebrities Are Embracing Artificial Intelligence Deepfakes
    • July 20, 2023
Trending
  • 1
    Meralco PowerGen’s PacificLight starts up 100 MW fast-response plant in Singapore
    • June 20, 2025
  • 2
    A Father’s Day Gift for Every Pop and Papa
    • June 14, 2025
  • 3
    Apple services deliver powerful features and intelligent updates to users this autumn
    • June 12, 2025
  • 4
    Apple supercharges its tools and technologies for developers to foster creativity, innovation, and design
    • June 11, 2025
  • 5
    It’s time to stop debating whether AI is genuinely intelligent and focus on making it work for society
    • June 8, 2025
  • 6
    PBBM asks Singapore to invest more in PH renewable energy projects
    • June 6, 2025
  • 7
    Singapore PM Wong arrives in Malacañang
    • June 4, 2025
  • 8
    Renewable energy, carbon credits are priority areas of cooperation for Singapore, Philippines: Lawrence Wong
    • June 4, 2025
  • 9
    Singapore businesses eye more investments in PH, says PM Wong
    • June 4, 2025
  • 10
    The Summer Adventures : Hiking and Nature Walks Essentials
    • June 3, 2025
Social Links
dotlah! dotlah!
  • Cities
  • Technology
  • Business
  • Politics
  • Society
  • Science
  • About
Connecting Dots Across Asia's Tech and Urban Landscape

Input your search keywords and press Enter.