The recently announced sale of Boullioun Aviation Services by WestLB will likely lead to an aircraft lease securitization shortly after the transactions' close, said sources with knowledge of the situation. Boullioun's attractive lease portfolio and forward delivery schedule, combined with the likely financial needs of potential acquirers, have many expecting an ABS from the new entity, depending on which competitor purchases the unwanted unit.

Boullioun has securitized in the past, in a $950 million private transaction named Rainier Securitization Trust that was placed into a conduit in December 2002 via JPMorgan Securities and WestLB as joint leads. In May, reports surfaced that Boullioun had mandated Citigroup Global Markets to lead an aircraft lease securitization, which never came to fruition.

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