Uzbekistan Airways’ $309 Million Financing


Dentons advised China Development Bank on the deal.

China Development Bank provided a US$309 million financing to Uzbekistan Airways for the acquisition of three Boeing 787-8 Dreamliners. China Development Bank made the facility available to the National Bank of Uzbekistan for Foreign Economic Activity, to on-lend to JSC Uzbekistan Airways towards the acquisition of three aircraft.

This is one of the first aircraft finance deals closed since Uzbekistan’s accession to the Cape Town Convention. Since its accession, Uzbekistan has shifted from an offshore (SPV) finance structure towards onshore finance with financial interests on aircraft assets being registered with the International Registry.

Dentons advised China Development Bank with Partner Shukhrat Yunusov (Picture), Head of the Banking and Finance practice in Uzbekistan, and a dual qualified lawyer (Solicitor of Senior Courts of England and Wales and Advocate) and junior associate Sanjar Narzullaev.

Involved fees earner: Shukhrat Yunusov – Dentons;

Law Firms: Dentons;

Clients: China Development Bank (CDB);

Author: Michael Patrini.