Falcon takes flight

Falcon Aerospace asset backed securitisation has been announced by Dubai Aerospace Enterprises, which is selling the e-note on a portfolio of 21 aircraft, leased to 13 airlines located in 12 countries with an initial total value of approximately $496.1 million. DAE will act as the servicer for the transaction. The ABS deal follows a similar loan structure to the Apollo AASET 2016-2, which features a single waterfall aimed at improving the efficiency of the transaction. The $410million is offered in three classes of loans, all maturing in 2042. The $315 million A loans, with an initial loan-to-value ratio of 63.5%,