Global Jet Capital completes BJETS 2024-1 ABS

Global Jet Capital has closed its BJETS 2024-1 asset based securitisation (ABS), raising approximately $575 million. BJETS 2024-1 is Global Jet Capital’s seventh ABS, bringing total assets securitised to approximately $5.1 billion and bonds issued to approximately $4.2 billion. The BJETS 2024-1 offering contained three tranches of notes: a $459.9 million Class A tranche, priced with a 6.20% coupon and 185 basis point (bps) spread, a $73.0 million Class B tranche, priced at 6.92% and 260bps spread, and a $42.0 million Class C tranche priced with a 9.13% coupon and 475bps spread. S&P Global Ratings and Kroll Bond Rating Agency