Global Jet Capital announces $517 million raised in securitisation

posted on 26th June 2019 by William Hayes
Global Jet Capital announces $517 million raised in securitisation

Global Jet Capital, the business aviation financier, has announced the closure of its BJETS 2019-1 securitisation, which raised approximately $517 million.

The securitisation was the third asset-backed security (ABS) offering in just over a year, with total assets securitised now standing at over $2.1 billion.

“We are pleased that we continue to broaden our investor base with each new offering, having added several new investors to BJETS 2019-1 who were attracted to the business aviation sector and our company,” Global Jet Capital CEO Shawn Vick said.

“We also appreciate the support of our existing lenders and the confidence that their continued commitment to the credit facility reflects in our business.”

The Connecticut-based company’s first securitisation in late February 2018 raised $608 million, with a further securitisation in June 2018 raising $674 million.

The latest offering, launched earlier in June, included three separate classes of tranche: $417.4 million Class A tranche; a $62.3 million Class B tranche; and a $37.4 million Class C tranche.

Each of which was oversubscribed and from a wide variety of investors, according to Global Jet.