Air Lease has begun marketing for its first ABS deal, which will refinance 19 aircraft from the US lessor's fund with Napier Park, Blackbird Capital.

Three tranches make up the $800 million 144A issue: $200 million AA notes, $540 million A notes and $60 million BBB notes.

The aircraft in the pool have an average age of 3.3 years and an average of 7.3 years left on lease.

Bank of America Merrill Lynch, BNP Paribas and Mizuho Bank are joint lead structuring agents and lead bookrunners. BAML is co-ordinator and Citi is a lead bookrunner. Air Lease will act as servicer.

Apollo Aviation launched a $640 million ABS transaction earlier this month. The deal, which is being arranged and structured by Goldman Sachs, is the third securitisation for Apollo.

Several sources on Wall Street tell FlightGlobal that a flurry of capital-markets transactions should close before year-end.

This article has been updated to add the third paragraph plus additional details of the institutions involved in the ABS

Source: Cirium Dashboard