STARR III ABS

GECAS is out with the third asset-backed securitisation in its STARR series. STARR 2019-2 (STARR III) is offered as a $446.337million three tranche debt portion as well as an e note tranche.The debt portion comprises: $355.047 million A-rated A notes, with an initial loan-to-value (LTV) of 65.9%; $56.570 million BBB-rated B notes with a 76.4% initial LTV; and $34.72million C noted, rated BB, with an 82.8% initial LTV.The proceeds will be used to purchase a portfolio of 20 narrowbody aircraft – 10 A320-200s, seven 737-800s, two 737-700s and one 737-900ER – with an initial weighted average aircraft age of 8.4