United Capital Markets priced the first aircraft lease repackage deal of the year last week, according to sources. There are potentially more restructurings on the way, as well as up to three new-issue pooled aircraft lease transactions - bringing a resurgence of liquidity to the sector, and satisfying investors looking to diversify ABS holdings outside of home equity ABS.

The deal for the first time brings a triple-A rated tranche of repackaged aircraft lease notes to the market without the benefit of principle defeasance from zero coupon Treasurys or other instruments, enabled by a surety wrap by guarantor Ambac, according to Randy White, aircraft and CDO trader at UCM.

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