DVB Bank, a Frankfurt-based bank that specializes in transport finance, plans to join the growing number of aircraft lessors tapping the securitization market. It is prepping a $667 million deal backed by a portfolio of 20 mostly narrow-body and wide-body commercial aircraft.

The aircraft seller is Deucalion Ltd., a Cayman Islands company managed and advised by DVB Bank SE, London Branch (DVB). The Aviation Asset Management (AAM) section within DVB, which was set up in 2007 to provide remarketing, lease management and technical services to owners and lessors of aircraft, will be the servicer of this transaction. BNP Paribas Securities is the lead manager.

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