Total Engine Asset Management (TEAM) has launched its first asset-backed securitisation (ABS) transaction – Sunbird Engine Finance 2020-1 – backed against a portfolio of 30 engines, valued at $305 million and one of the few securitisations using this type of underlying collateral to reach the market in recent years.The transactions is structured into three different series of notes, issued by Cayman Island-based Sunbird Engine Finance. TEAM is a is a 50/50 joint venture that was established in 20 11 ST Engineering and Marubeni Corporation and is headquartered in Singapore. All three series of notes mature in 2045 with the A notes

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