DAE announces issuance of $514 million fixed rate notes

Dubai Aerospace Enterprise (DAE) has taken to the market with its fourth securitisation of $514.3 million of fixed rate notes. The notes, issued by Falcon 2019-1 Aerospace and Falcon 2019-1 Aerospace USA LLC, have been released in three tranches of Series A notes worth $404.1 million with an initial LTV rating of 66% rated A by Kroll Bond Rating Agency (KBRA). There will be $73.5 million Series B notes with an initial LTV of 78% rated BBB. As well as $36.7 million with an initial LTV of 84% rated BB. Proceeds from the issuance of the notes will be used to acquire