BBAM launches Horizon Aircraft Finance II

BBAM is in the market with its third aircraft asset backed securitisation – Horizon Aircraft Finance II (Horizon 2019-1). This issuance comprises tree tranches of notes: $375 million A-rated A notes, with an initial loan-to-value (LTV) ratio of 65.77%; $69 million BBB-rated B notes, with a 77.8% LTV; and $41 million C notes, rated BB with a LTV of 85%. The A and B notes amortise on a 13-year straight-line schedule, while the C notes amortise on a seven-year straight-line schedule. The notes are secured on a portfolio of 20 narrowbody aircraft – 12 737-800s, six A320-200, one A319-100 and