Early last week this news service revealed that Element Financial was preparing an aircraft asset backed securitisation. More details have emerged this week in two presale reports from Standard & Poor’s and Fitch Ratings. The $1.210bn three tranched deal, ECAF I Ltd, secures a pool of 49 aircraft and their leases with BBAM as the servicer. The A notes are split into two tranches – the $459.375 million A-1 notes and $590.625 million A-2 notes – which are both rated A by S&Ps and A by Fitch, and have a final maturity of May 2040. The $160 million B-1 notes

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