SG Dealbook: BOC Aviation sells 24 aircraft to Shenton Aircraft;Q&M to sink teeth into Liaoning dental clinic

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Bank of China (BOC) Aviation has sold 24 aircraft to Singapore-based Shenton Aircraft Investment. Meanwhile, Q&M has committed to definite agreements involving the acquisition of stakes in dental clinics in Liaoning via an associated firm, Shenyang Xin’Ao Hospital Management Co.

BOC Aviation sells 24 aircraft to Shenton Aircraft Investment

BOC Aviation Pte Ltd has signed an agreement to sell a portfolio of 24 aircraft to Shenton Aircraft Investment I Ltd and affiliates. The financial terms of the sale are undisclosed. BOC Aviation is owned by the Bank of China and based out of Singapore, but will continue to manage the portfolio.

Part of the purchase of the aircraft portfolio will be financed with the issuance of two tranches of notes, comprising S$747.4 million ($536.7 million) of 4.75 per cent Series A notes and S$60.5 million ($43.4 million) of 5.75 per cent Series B notes. The notes are backed by the 24 commercial aircraft to be acquired from BOC Aviation, which are currently on lease to 21 airlines in 18 countries. 

Repayment of the notes will is limited to the aircraft portfolio, their leases and related collateral, stated BOC Aviation, adding that a third-party institutional investor acquired 100 per cent of the equity interest via a private placement.

The portfolio has a weighted average age of 4.6 years and a weighted average remaining lease term of 5.7 years, based on weighted average appraised values.

Q&M enters agreements to acquire stakes in Liaoning dental clinics

Q&M Dental Group says its indirect subsidiary Shenyang Xin’Ao Hospital Management Co has entered into three separate definitive agreements to acquire a 60 per cent stake in five dental clinics located in Liaoning Province, China.

Earlier this year, Q&M acquired a 60 per cent stake in a dental clinic located at Liaoning province, China, for a consideration of S$1.3 million ($933,177). through Shenyang Xin’Ao Hospital Management., which operates the Shenyang Aoxin Q & M Group of stomatology hospitals and clinics in Shenyang.

The first agreement is for the acquisition of a 60 per cent stake in 3 dental clinics in Panjin City from Dr Ren Hong for RMB 12.2 million ($1.92 million), the second is for the 60 per cent stake in a dental clinic in Panjin City from Dr Zhang Chun for RMB 6.5 million ($1.02 million) and the third agreement is for the 60 per cent stake in a dental clinic in Gaizhou City from Dr Li Zhou and Dr Gao Huiying for RMB 2.4 million ($378,123).

According to Q&M, the proposed acquisitions are aligned with plans for continued expansion of its mainland Chinese dental business unit and a deepening of its footprint in the region.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.