Air Lease's $345 million securitisation Thunderbolt (TBOLT 2017-1) priced today, sources working on the deal say.
The $253 million A notes priced with a yield of 4.25%, while the $69.3 million B notes came in at 6% and the $22 million Cs at 7.625%, according to a source who worked on the deal.
The transaction, which began marketing last week, will close on 3 May.
TBOLT 2017-1 has over 40 investors in the transaction, according to a banker. On an overall blended basis, this is the tightest pricing for a mid-life aircraft asset backed securitisation (ABS).
Bank of America Merrill Lynch is global coordinator and joint structurers with Mizuho. Both banks are also joint bookrunners along with BNP Paribas, while Citi is providing the liquidity facility.
FlightGlobal understands that Waterfall Asset Management, Candlewood Investment Group and ITE will purchase the equity.
Air Lease is acting as servicer.
Source: Cirium Dashboard
