Bank of China’s aircraft leasing unit BOC Aviation has secured a $300m syndicated loan from a consortium of 18 Japanese banks, a few months after it raised $750m through bonds in the US.

The aircraft lessor expects to meet its financing needs before the anticipated rise in interest rates in the US.

BOC Aviation managing director and CEO Robert Martin told Reuters that the latest loan will be provided by the Development Bank of Japan-led group.

"The Japanese banks are very flush with money at the moment, so it’s a good time to engage them."

Martin said: "The Japanese banks are very flush with money at the moment, so it’s a good time to engage them."

Among the participating banks, 13 were new to BOC Aviation.

The company plans to use the loan to purchase aircraft.

Singapore-based BOC Aviation was formed with Bank of China’s acquisition of Singapore Aircraft Leasing Enterprise (SALE).

The aircraft leasing firm owns a fleet of 256 aircraft that are operated by 61 airlines across the world. It currently has 195 aircraft on order, expected to be received through to 2021.

BOC has so far raised $1.8bn this year from its group of more than 50 lenders, including Wells Fargo.

In March, the company issued a $750m five-year fixed rate senior unsecured notes due in 2020.

"We continue to build access to diversified financing sources," Martin added.

For the six months ending 30 June, BOC Aviation recorded revenues of $535m with net profit after tax of $171m.