ABS bonanza continues with Thunderbolt III and Horizon III

There has been a wave of aviation asset-backed securitisations these past few weeks. Air Lease Corp. (ALC) has launched its third ABS under the Thunderbolt designation.  Mizuho is left lead on the deal as joint lead structuring agent and joint lead bookrunner with Bank of America and Goldman Sachs. As with previous Thunderbolt deals, ALC remains as the servicer. Citi is trustee, with Wells Fargo providing the nine-month liquidity facility.  The $437 million TBOLT III 2019-1 ABS deal comprises two series of notes: $370 million A rated by KBRA, has an initial loan-to-value (LTV) ratio of 66.5%; and $67 million