Apollo Aviation has launched its third overall leased aircraft securitization, and second for 2016, in a new $640 million transaction.

The Apollo Aviation Securitization Equity Trust 2016-2 will be borrowing from three classes of fixed-rate loans to acquire a full series of A, B, and C notes supported by the receivables of 35 aircraft leases to 22 airlines in 20 countries. The initial portfolio has a value of $792.2 million – which is almost a quarter of the investment management firm’s $3.1 billion in total aviation assets under management.

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