Apollo Aviation ABS closes oversubscribed

Apollo Aviation’s debut securitisation transaction closed oversubscribed on November 21. The $556.3 million Apollo Aviation Securitization Equity Trust 2014-1 is comprised of two tranches. The $422.052 million A tranche with an initial loan-to-value of 55% and an A rating from Kroll Bond Rating Agency, priced at 5.125%. The $134.289 million B notes, with an LTV of 72.5% and a BBB Kroll rating, priced at 7.375%. Both tranches have a final maturity of November 15, 2029. The notes are secured by a pool of 40 aircraft, with an average age of 14.2 years and an average remaining lease term of 3.6