Bolt from the Blue – Thunderbolt enters the market

Air Lease Corporation has launched its second aviation asset backed securitisation transaction, named Thunderbolt Aircraft Lease Limited 2017-1. The $344.7million deal is arranged in three tranches: $253.4 million A notes with an initial LTV of 58.1% and rated A by Kroll Bond Rating Agency (KBRA); $69.3 million B notes, 73.9% initial LTV ratted BBB by KBRA; and $22 million C notes, 79% initial LTV and rated BB- by KBRA. The notes are secured on a fleet of 19 aircraft on lease to 17 airlines located in 13 countries. The initial weighted average aircraft age of the portfolio is approximately 12.5