KDAC refinancing ABS in the market

DVB Bank, now MUFG, is in the market with a new asset backed securitisation (ABS) transaction KDAC Aviation Finance 2020-1, which refinances an earlier ABS deal from 2017 KDAC 2017-1. The $629.8 million deal, which is offered in three tranches of notes, refinances the KDAC 2017-1 portfolio of 34 aircraft assets, with an initial weighted average aircraft age of 13.8 years, with a weighted average remaining lease term of approximately 2.8 years. As of January 28, 2020, four aircraft in the portfolio have delinquencies ranging from 30 days to 90 days late. The deal comprises: $505.363 million A-rated A notes