Castlelake issues fifth aviation ABS

Castlelake is in the market with its fifth aviation asset backed securitisation (ABS) transaction, Castlelake Aircraft Structured Trust 2018-1. This time the deal comprises $911 million in three tranches of notes secured on a portfolio of 36 aircraft with an average age of 9.7 years and an average remaining lease terms of four years. The ABS comprises: $731.2 million class A notes, with an initial loan-to-value (LTV) of 67%, and an A rating from Kroll Bond Rating Agency; $114.6 million B notes, rated BBB with an LTV of 77.5%; and $65.5 million C notes, rated BB with an LTV of