The offering, which marks the firm's ninth venture into asset-backed securities, was structured into three tranches: $561.39 million in Class A notes, $56.95 million in Class B, and $40.68 million in Class C. Ratings agencies S&P Global and Kroll assigned these tranches ratings of A/A, BBB+/BBB, and BB/BB, respectively. The deal drew participation from 41 unique investors, including 12 who had not previously engaged with the BJETS program.
In section Releases
Global Jet Capital Secures $659 Million in Ninth ABS Offering
Global Jet Capital has finalized its BJETS 2026-1 securitization, securing $659 million through an asset-backed offering. This latest transaction pushes the company’s total securitized assets to approximately $6.7 billion, reinforcing its position as a major financier in the business aviation sector by leveraging cash flows from diverse aircraft loans and leases.
The underlying portfolio comprises 28 loans and leases across 20 industries, covering 16 distinct aircraft models, primarily mid- to large-cabin business jets. Morgan Stanley & Co. served as the lead structuring agent and bookrunner for the transaction, supported by a syndicate including Deutsche Bank Securities, BofA Securities, and Citigroup Global Markets. Global Jet Capital, based in Danbury, Connecticut, will retain servicing responsibilities for the assets. CEO Vivek Kaushal attributed the successful closing to the company’s consistent portfolio performance and the ongoing commitment of its investor base.
Comments (0)
No comments yet. Be the first!