Airborne Capital Limited (‘Airborne Capital’) announces the closing of its second asset backed securitisation (‘ABS’) transaction, MAST 2022-1.
Marathon Asset Management, L.P. (‘Marathon’) is the sponsor of the ABS while Airborne Capital is the servicer
The $303.7 million ABS offered one tranche of notes, all of which have been privately placed, and secured on a portfolio of 15 narrowbody aircraft including two Boeing 737 MAX 8, two Airbus A320neo, six Airbus A320-200s and five Boeing 737-800NG aircraft
The portfolio has a weighted average age of 6.0 years and an average remaining lease term of approximately 6.4 years
The notes are A- rated, with an initial loan-to-value (LTV) ratio of 61.1%
Mizuho Securities was the structuring and placement agent while Clifford Chance and Vedder Price were the legal advisors
Press Release (.pdf)