Breaking News: Ashland Place taps into nascent loan ABS market

Ashland Place is in the market with its inaugural asset backed securitisation (ABS), which comprises four tranches of aviation loans. The offering comprises $238.2 million A notes, rated AA by KBRA, with an 67.9% loan-to-value (LTV) ratio based on the loan balance and 38.9% based on the collateral balance. The $53.32 million B notes, rated A-, have a loan LTV of 83.1% and collateral LTV of 47.6%. The $21.92 million C notes, rated BBB-, have a LTV of 89.3% and 51.2% respectively, while the BB- rated D tranche, worth $10.87 million in total, has loan LTV of 92.4% and a