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Thu, Mar 10, 2011

Bombardier And China's ICBC Financial Leasing Sign MOU

Memorandum Covers Entire Line Of Commercial And Business Aircraft

Bombardier Aerospace said Thursday that it has signed a memorandum of understanding (MOU) with ICBC Financial Leasing Co., Ltd. (ICBC Leasing). ICBC Leasing is a leading leasing company in China, and Industrial Commercial Bank of China (ICBC), its major shareholder, is one of the world's largest banks.

The agreement clears the way for ICBC Leasing to provide Bombardier's customers with advance payment financing, delivery financing and leasing solutions for Q-Series, CRJ Series and CSeries commercial aircraft, as well as Learjet, Challenger and Global business aircraft. The capital available from ICBC Leasing totals up to $8 billion US, for both domestic and international transactions.

The MOU also covers financing for Bombardier Aerospace, as well as its current and potential future subsidiaries and affiliates, in the areas of maintenance, service and production, and allows ICBC Leasing to provide Bombardier Aerospace with credit facilities, hedging and settlement services for general requirements through affiliates of ICBC.

FMI: www.bombardier.com

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