ALC in the market with Thunderbolt II featuring an innovative e note structure

Air Lease Corporation (ALC) is currently in the market with a follow up to its successful Thunderbolt asset backed securitisation (ABS) transaction, which features what is being described as incorporating an innovative equity structure.  On the debt side, Thunderbolt II (TBOLT 2018) issues $450 million of notes in two tranches – $375 million A notes, rated A with an initial LTV of 65.1%, and $75 million B notes, rated BBB with an initial LTV of 78.2%. The Series A Notes and Series B Notes both amortize on a 14-year straight-line schedule. The notes are secured on a portfolio of 18