Vedder Price

Vedder Thinking | News Vedder Price Represents Equity Investors in $344.7 Million Aircraft Asset Backed Securitization

Press Release

Vedder Price is pleased to announce that it advised the equity investors in a $344.7 million aircraft asset backed securitization. Air Lease Corporation closed the multi-million fixed rate notes offering via Thunderbolt Aircraft Lease Limited and Thunderbolt Aircraft Lease U.S. on May 3, 2017.

According to Air Lease’s press release, the offering is comprised of $253.4 million of 4.212% series A fixed rate notes, $69.3 million of 5.750% series B fixed rate notes and $22 million of 4.500% series C fixed rate notes. The issuers also offered series E notes representing the equity interests in Thunderbolt Aircraft Lease Limited and Thunderbolt Aircraft Lease U.S.

The series A notes, series B notes and series C notes were rated A / A, BBB‐ / BBB and BB / BB‐, respectively, by S&P and by Kroll.

The notes are backed by a portfolio of 19 aircraft which will be acquired by the issuers. Proceeds from the issuance of the notes will be used by the issuers to acquire the aircraft.

Global Transportation Finance Shareholders Jeffrey Veber, Geoff Kass and Michael Draz led the team from Vedder Price.




Professionals



Michael E. Draz

Shareholder



Geoffrey R. Kass

Shareholder



Jeffrey T. Veber

Shareholder