Global Capital out with second ABS, BJETS 2018-2

On the back of its first asset backed securitisation of a portfolio of business jets, Global Jet Capital, has launched its second offering, Business Jet Securities 2018-2. This latest deal comprises three classes of notes secured on a portfolio of 76 business jets with an appraised value of approximately $821.5 million, which are leased to 68 obligors. Approximately 76.5% of the portfolio is initially on operating leases, while 8.0% are loans and 15.5% are finance leases. The $673.6 million transaction comprises: $550.39 million A notes, which have an initial loan-to-value of 67% and an A rating from Kroll Bond Rating