[Unofficial Translation]
October 8, 2014
Koichiro Watanabe
President and Representative Director The Dai-ichi Life Insurance Company, Limited Code: 8750 (TSE First section)
The Dai-ichi Life Insurance Company, Limited (the "Company"; President; Koichiro Watanabe) hereby announces that it has decided to make an investment in aircraft finances as the Company's effort aimed at entering into this new market; the amount is equivalent to approx. 20 million USD.
Case 1 | Case 2 | |
Description | Start to invest in EETC (Enhanced Equipment trust Certificate) | Participation in syndicated loan to a US aircraft leasing company |
Amount | Approx. 9.4 million USD | 950 million yen (approx. 8.6 million USD) |
Timing | Start from September 2014 | November 2014 (scheduled) |
Note | EETC is a structured finance product collateralized by multiple aircraft finances. | Funds from this financing will be used to purchase aircrafts by the leasing company. |
The aircraft market has growth potential on a global basis, as both passenger demand in developing countries, and replacement demand for aircraft in developed countries, is expanding. The global commercial fleet is expected to grow to double in size from approx. 20,000 airplanes today to approx.
40,000 by 2032. Also the aircraft industry is an area in which Japanese companies have a high level of international competitiveness thanks to their technological capabilities and track records.
The Company will continuously and actively enhance our investments in growth areas and infrastructure sectors such as aircraft finance, while considering profitability and diversification.
*Generai structure ofEETC
Trust Account
Airline
Equipment Note l
Equipment Note l Class A Certificate Q
lnvestor
(or SPC) Q
Equipment Note
Equipment Note
J
l Class B Certificate l Q
lnvestor
distributed by
|