ABS market return continues with THRUST and SLAM

The aviation asset-backed securitisation (ABS) market is back up and running demonstrated by the latest transactions to come to market: Thrust 2021-1 – the $485 million engine portfolio securitisation from GECAS – and SLAM 2021-1 – the $663 million aircraft portfolio securitisation from SKY Leasing. The $663.176 million Sky Aero Management Limited (SLAM 2021-1) ABS comprises two tranches of notes: $592.437 million A rated A notes, with an initial loan-to-value ratio of 67%, and $70.739 million B notes, with a 75% LTV and rated BBB. Proceeds from the notes will be used to acquire 16 aircraft – 10 A321-200neo, two