The first-time $780.8 million notes offering from Sky is primarily backed by leases to international emerging-market airlines, but the passenger jets in the pool are relatively new with an average fleet age of only 3.4 years.
Belgium-based diamantaire Diarough is offering $150 million in notes backed primarily by its inventory of rough and polished diamonds, according to a presale report from Kroll Bond Rating Agency.
The transaction, PFS Financing Corp. 2017-B, consists of a $282 million senior tranche provisionally rated triple-A, and an $18 million unrated subordinate tranche. Both tranches have legal, final maturities in July of 2022.
It's the sponsor's first securitization to be rated by Morningstar; DBRS and Kroll Bond Rating Agency are still capping their ratings of Property Assessed Clean Energy bonds at double-A.
Structural features, not present in the sponsor's previous securitization, completed in 2012, allowed it to obtain a credit rating for the the senior and subordinate tranches.
U.S. District Judge André Birotte has dismissed all federal claims against Renovate America and its government bond-issuing partners in three lawsuits that had sought class-action status.
