Irish aircraft leasing company Avolon is preparing to launch a $636 million aircraft lease securitization.
The deal called Emerald Aviation Financing Series 2013-1 is market the issuer’s debut in the securitization market. Kroll Bond Ratings Agency has assigned preliminary ratings to the deal. The class A-2 notes are rated ‘A’ and the class B-1 notes are rated ‘BBB’. Both tranches are structured with a final maturity date of Oct. 15, 2038.