In a first for the aircraft ABS sector and for GE Commercial Aviation Services, Blade Engine Securitization recently completed a $362 million debt and equity transaction that combines elements of a securitization and a private placement transaction. Dealmakers say it promises to draw imitators from within the sector and the ABS business overall.

Blade Engine Securitization, which closed on Sept. 15, is secured by leasing revenues on a pool of 50 commercial aircraft engines acquired from Stamford, Conn.-based GE Commercial Aviation Services. The sole arranger and placement agent, UBS Securities, is promoting the transaction as the first debt and equity sale in the aircraft ABS sector.

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