Apollo Global Management

Nineteen of the aircraft collateralizing MAPS 2018-1 were previously securitized in a 2013 Merx-sponsored deal dubbed AABS Ltd.

The New York-based alternative asset manager is first out of the gate with a new-issue deal amidst a flurry of early reset/refinancing activity totaling $3.4 billion.

The move convinced Kroll Bond Rating Agency to upgrade $95 million of securities, some of which had been under review for a possible downgrade for over a year; Kroll affirmed the ratings of another $63 million of bonds.

The U.S. Second Circuit ruled that Momentive Performance Materials should use what's known a a "market rates" formula to determine the appropriate payout for a series of replacement notes issued to bondholders.

The sponsor obtained a $1 billion mortgage from JPMorgan, Goldman and Citi; proceeds will be used to repay $715 million of debt taken out in 2015 to acquire the original portfolio from Apollo Global Management.