DAE sells 18 aircraft into KSTRL 2018-1 ABS

Dubai Aerospace Enterprise (DAE) has successfully closed a new asset backed securitisation (ABS) transaction, Kestrel Aircraft Funding I (KSTRL 2018-1), selling a portfolio of 18 mid-life aircraft to institutional investors. Kestrel is DAE’s third aviation ABS, which is secured on a portfolio of 18 aircraft – seven A320-200s, four 737-800s two A319-100s, two ATR 72-600s, one A330-200, one A330-300 and one A321-200 – with an initial weighted average aircraft age 8.9 years with a weighted average remaining lease term of approximately 4.5 years. The $379.4 million transaction comprises two tranches of notes – $319.8 million A notes, with an initial