Miscellaneous
Privately held commercial aircraft lessor Pegasus Aviation announced that it has issued a $938 million lease securitization for 28 commercial jet aircraft for 22 airlines. Although the focus of the securitization is the B757-200ER, it also features several other aircraft models.
Senators in Kansas have introduced legislation to securitize a portion of the state's $1.7 billion tobacco lawsuit settlement. This will provide the state with as much as $475 million of financing for children's programs. If the bill does clear, the state will grant Kansas Development Finance Authority (KDFA) up to 75 percent or more of the tobacco settlement for bond securitization. A subsidiary authority of KDFA would be created to handle all tobacco issues.
Delta Financial Corp. has agreed to settle U.S. allegations of unfair lending to low-income homeowners, including accusations that it charges Black women borrowers higher mortgage-broker fees than other customers.
The complaint made by the government also accused Delta of extending loans to borrower that couldn't afford to repay them and paying kickbacks to brokers who steered customers its way. To settle the charges, Delta has agreed to compensate Black women borrowers who were charged higher fees than similarly situated white male borrowers.
