Ashland Place prices inaugural loan ABS

Ashland Place Finance (Ashland Place) has priced its inaugural aviation loan asset backed securitisation (ABS), APL Finance 2023-1, which offered four tranches of notes secured by a static pool of aviation loans. The quality of the portfolio of aviation loans resulted in tranches A through C being rated investment grade by KBRA, and the deal being oversubscribed. A healthy mixture of traditional aviation ABS investors as well as investors new to the asset class are reported to have bought into the deal. Formed in September 2021, the Ashland Place platform, backed by Davidson Kempner Capital Management (DKCM), was set up