Spirit Airlines in the market with a $421 million EETC

Spirit Airlines has launched three tranches of $420.5 million enhanced equipment trust certificates (EETC) SAVE 2017-1. The $247.1 million AA class of notes, which amortised over 12.2 years, have an initial loan to value (LTV) of 41.1% and an initial average life of 8.6 years, are rated AA by S&P and Fitch. The $82.366 million A notes, that amortise over 12.2 years, are rated A by both rating agencies, with a LTV of 54.8% and an average life of 8.6 years. The $91.035million B notes are rated BBB- by S&P and BBB+ by Fitch and have an average life of