GECAS has closed a $305 million aircraft engine securitization. The issuer is Turbine Engines Securitization Ltd or “TURBN 2013-1. The transaction facilitated the sale of 32 aircraft engines from GE by issuing Series A and Series B debt notes together with an Equity Certificate purchased by a third party institutional investor. GECAS will remain as servicer on the portfolio. Citi acted as Sole Structuring Agent and Lead Bookrunner. The senior credit facility is provided by Credit Agricole CIB. The $275million Series A debt features an initial LTV of 73.2%, an expected tenor of 12.3 years with a Weighted Average Life
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