Global aircraft lessor ALC is making a trip to the securitization market to refinance 19 aircraft on lease to 16 airlines located in 13 countries.

The aircraft are currently owned by Blackbird Capital I, a joint venture between ALC and Napier Park Global Capital, according to Kroll Bond Rating Agency. They are valued at approximately $1.049 billion, after adjusting for expected maintenance conditions. As of June 30, the 19 aircraft represent approximately 6.8% (by number of aircraft) of ALC’s owned and managed fleet and substantially all of Blackbird’s owned fleet.

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