SKY Aviation has priced its $781 million inaugural securitisation SJETS-2017-1, marking the seventh aviation asset-backed security deal to close this year.

The $658 million A notes yield 4% while the $81 million B notes yield 5.75% and the $42 million C notes 7.125%, says a source familiar with the deal.

Proceeds from the transaction will be used to purchase 21 aircraft, including 18 narrowbodies and three widebodies. The aircraft have an average age of 3.4 years and an approximate value of $992 million as of March 2017.

Deutsche Bank is the sole structuring agent and lead bookrunner for SJETS-2017-1. Phoenix American Financial is managing agent, Wells Fargo trustee and Credit Agricole CIB liquidity facility provider. SKY Aviation will manage the aircraft.

Source: Cirium Dashboard