Merx Aviation in market with an inaugural ABS

Earlier this week, Merx Aviation launched its inaugural aviation asset backed securitisation (ABS) – $506.5 million in three tranches of notes secured on a portfolio of 25 aircraft, with an average age of nine years and a weighted average remaining lease term of 4.5 years.  The proceeds from the notes will also be used to refinance the AABS Limited Asset Backed Secured Term Loan (AABS) aircraft ABS transaction, which closed in January 2013. Of the 25 aircraft in this portfolio, 19 were also securitized in the AABS portfolio. Merx owned the equity in the AABS transactions and is now taking