Standard Chartered PLC SC completes sale of aviation leasing business (2374S)

TIDMSTAN

RNS Number : 2374S

Standard Chartered PLC

02 November 2023

Standard Chartered announces completion of sale

of its global aviation finance leasing business to AviLease

2 November 2023, Dublin, London, Hong Kong - Following the announcement in August 2023 of the sale of our global aviation finance leasing business to Aircraft Leasing Company ("AviLease"), Standard Chartered ('the Group') confirms the sale closed today, 2 November 2023. AviLease has acquired the business for cash consideration of US$0.7 billion and has funded the repayment of approximately US$2.9 billion of net intra-group financing from the Group. The Group will benefit from an increase in Common Equity Tier 1 capital ratio of around 19 basis points, which will be included in its year end capital position. Completion of the sale represents significant further progress on the Group's strategic priorities.

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For further information please contact:

Claire Newell

Head of Communications for UK and Europe

Tel: [phone]

Email: [e-mail]

Piers Townsend

Global Head of Communications for Corporate, Commercial and Institutional Banking

Tel: [phone]

Email: [e-mail]

Gregg Powell

Global Head of Investor Relations

Tel: [phone]

Email: [e-mail]

Adnan Akhtar

Head of Sell-Side, Investor Relations

Tel: [phone]

Email: [e-mail]

About Standard Chartered

We are a leading international banking group, with a presence in 52 of the world's most dynamic markets, and serving clients in a further 64. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good. Standard Chartered PLC is listed on the London and Hong Kong Stock Exchanges. For more stories and expert opinions please visit Insights at sc.com . Follow Standard Chartered on Twitter, LinkedIn and Facebook.

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November 02, 2023 10:08 ET (14:08 GMT)