AASET 2017-1 prices

Eleanor Steed
By Eleanor Steed May 31, 2017 15:57

AASET 2017-1 prices

Apollo Aviation Group has priced its fourth aircraft ABS, AASET 2017-1 Trust. AASET 2017-1 will issue $612.228 million of secured notes that will be used to acquire a fleet of 32 aircraft.

AASET 2017-1 will issue three tranches of Secured Notes with the following principal amounts and coupons: $479.456 million Class A Fixed Rate Secured Notes Series 2017-1 at 3.967%, $88.515 million Class B Fixed Rate Secured Notes Series 2017-1 at 5.926%, and $44.257 million Class C Fixed Rate Secured Notes Series 2017-1 at 7.385%. Apollo Aviation Management Limited, an affiliate of Apollo Aviation, will act as servicer for the transaction. The Class A Fixed Rate Secured Notes Series 2017-1 will be sold at a price equal to 99.99949% of their face value, with an effective yield of 4.0%. The Class B Fixed Rate Secured Notes Series 2017-1 will be sold at a price equal to 99.99818% of their face value, with an effective yield of 6.0%. The Class C Fixed Rate Secured Notes Series 2017-1 will be sold at a price equal to 99.99818% of their face value, with an effective yield of 7.5%.

Eleanor Steed
By Eleanor Steed May 31, 2017 15:57