SKY Leasing closes SLAM 2021-1 ABS: GE-AerCap transaction update

SKY Leasing (SKY) has closed its $663 million SLAM 2021-1 asset backed securitisation (ABS). The proceeds from the notes will be used to acquire a portfolio of 16 Airbus and Boeing aircraft valued at approximately $885 million. The portfolio features the youngest average aircraft age for an aircraft ABS ever issued with an average age of 1.6 years and a weighted average lease term of 11.1 years. The portfolio includes the highest concentration of next generation narrowbody aircraft for an aircraft ABS with 10 A321NEO aircraft in the portfolio. SKY will act as servicer for SLAM’s aircraft portfolio. The offering consisted of two series of