Apollo Aviation will issue $442 million of notes in its first securitisation of 2018, according to a new issue report from Kroll Bond Rating Agency.
AASET 2018-1 will finance the purchase of 24 aircraft, including 19 narrowbodies and five widebodies. The portfolio has a weighted average age of 14.1 years with a weighted average remaining lease term of 4.1 years.
The deal is being offered in three tranches: $352 million A notes, $59 million BBB notes and $32 million BB notes.
Goldman Sachs is sole structuring agent, global coordinator and lead bookrunner, while DVB Bank is providing the liquidity facility. Apollo is acting as servicer.
This is Apollo's fifth securitisation since 2014.
Source: Cirium Dashboard
