DAE out with new ABS deal that features two MAX aircraft

A new aviation asset backed securitisation deal is in the market with a portfolio of aircraft from servicer Dubai Aerospace Enterprise (DAE), which features two 737MAX aircraft. The $716 million Navigator Aircraft ABS (Navigator 2021-1) is offered in three tranches of notes, which are secured on a portfolio of 22 aircraft (four A320-200s, two A321-200s, eight 737-800s, two 737-8s (previously known as the MAX), four A321-200Neos, and two A330-300s) on lease to 17 lessees located in 16 jurisdictions. The weighted average age of the portfolio is approximately 5.5 years and the weighted average remaining term of the initial lease contracts