Another ABS deal: BBAM launches Horizon 2018-1

The seemingly endless popularity of the aviation asset backed securitisation (ABS) product continues with the launch of a new deal from BBAM Aviation Services. The $612.1 million Horizon Aircraft Finance I ABS is offered in three tranches of notes secured on a portfolio of 29 narrowbody aircraft, which have an average age of 9.8 years and a weighted average remaining lease term of 3.4 years. The remaining lease term is low compared to other ABS deals that have closed recently and BBAM has stressed the efforts it is making to extend certain leases and remarketing others that are coming off