Global banks finance $420M to LCI and CMFL JV social projects

LCI, a leading aviation company, and Sumitomo Mitsui Finance and Leasing Co., Ltd (SMFL), have executed US$420 million of loan facilities that can be used for funding social projects.

You are viewing: Global banks finance $420M to LCI and CMFL JV social projects

The loan facilities have been executed with four global financial institutions: Sumitomo Mitsui Banking Corporation (SMBC), Mitsubishi UFJ Banking Corporation, Mizuho Bank, and Bank of America.

The funds drawn under these facilities will principally be used to purchase emergency medical services (EMS) and search-and-rescue (SAR) helicopters.

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Alan O’Rourke, CFO of LCI, said: “We salute the pioneering role played by the four leading financial institutions in committing funds which can be used for social projects. We are proud that we are collectively making a real and tangible difference in supporting social projects and saving lives.”

LCI and SMFL launched a Social Loan Framework under their JV, the first of its kind for the helicopter leasing sector, in November 2023. 

It was established in accordance with the internationally agreed Social Loan Principles developed in 2023 by the Loan Syndications and Trading Association (LSTA) and holds the highest rating of “Social 1(F)” from the Japan Credit Rating Agency.

The framework is an integral part of LCI’s responsibility program and reflects SMFL’s long term commitment to the UN’s Sustainable Development Goals (SDGs) as part of the company policy ‘The SMFL Way.’ 

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Helicopters in EMS and SAR support local communities and align with ‘Good health and well-being’ (SDG3), ‘Industry, innovation and infrastructure’ (SDG9) and ‘Sustainable cities and communities’ (SDG11).

LCI is also a signatory of Aircraft Leasing Ireland’s (ALI) Sustainability Charter, with a commitment to driving forward and achieving ESG related goals, centred around 10 priority sustainability principles, including a commitment to achieving net zero by 2050.

This press release was prepared and distributed by LCI.