Aviation Capital Group LLC is back in the aircraft lease ABS market for the first time in three years.
The Newport Beach, Calif., company’s second-ever securitization of commercial aircraft leases will raise proceeds for the acquisition of 24 aircraft on lease to airlines in 15 countries.
The planes have a weighted average of 7.8 years with remaining lease terms of five years. The portfolio consists entirely of narrowbody, single-aisle jets, and has an initial value of approximately $601.9 million.
The $403 million of Series A notes amortize on a 12.8-year straightline schedule.
Mizuho is the sole structuring agent, global coordinator and left lead bookrunner.
According to Kroll,
According to Kroll, ACG had a fleet of 481 owned, managed and committed aircraft across 90 airlines in 45 countries, with a value of $9.7 billion.