BOCA RATON, Fla., March 1, 2018 /PRNewswire/ -- Global Jet
Capital, a global provider of financial solutions for business
aircraft, closed its inaugural securitization, the $608 million BJETS 2018-1 transaction, which
priced on February 21, 2018. The
transaction marks the first ABS capital markets financing backed
exclusively by business jet operating leases and loans.
The notes were structured in three tranches: a $497 million Tranche, rated A by Kroll; a
$74 million tranche, rated BBB by
Kroll; and a $37 million tranche,
rated BB by Kroll. The transaction was almost 3-times
oversubscribed, generating more than $1.7
billion in orders from more than 30 unique investors.
Deutsche Bank Securities was the Lead Structuring Agent and Lead
Bookrunner for the transaction. BofA Merrill Lynch and
Citigroup were Joint Structuring Agents and Joint Bookrunners, and
Morgan Stanley was Joint Bookrunner. Global Jet Capital will
continue to service the assets.
Shawn Vick, CEO of Global Jet
Capital, stated, "The investor community is increasingly looking to
diversify their portfolios to reduce risk and find new
opportunities. Their response to our offering is testament to both
the strong portfolio of assets we have created, and the expertise
of the management team. We are especially pleased at the range
of investors we have attracted and look forward to delivering
strong value for them."
Global Jet Capital plans to continue to use the ABS market as an
integral part of its funding strategy in the future.
Notes to editors
Global Jet Capital
With over $2.0 billion in assets under management, Global
Jet Capital provides financing solutions for the business aircraft
market. The Company is capitalized by world-class private investors
with expertise in the global aviation industry: The Carlyle Group,
FS Investments (sub-advised by GSO Capital Partners, a Blackstone
company), and AE Industrial Partners. The Global Jet Capital
management team has served the business aircraft industry for a
combined 200-plus years and has completed over 3,500 aircraft
transactions. The Company has the expertise, financial strength,
industry relationships and infrastructure necessary to offer a
variety of flexible financing solutions at the speed the market
requires. Visit www.globaljetcapital.com to learn more.
The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a
global alternative asset manager with $195
billion of assets under management across 120 funds and 197
fund of funds vehicles as of December 31,
2017. Carlyle's purpose is to invest wisely and create value
on behalf of its investors, many of whom are public pensions.
Carlyle invests across four segments – Corporate Private Equity,
Real Assets, Global Credit and Investment Solutions – in
Africa, Asia, Australia, Europe, the Middle
East, North America and
South America. Carlyle has
expertise in various industries, including: aerospace, defense
& government services, consumer & retail, energy, financial
services, healthcare, industrial, real estate, technology &
business services, telecommunications & media and
transportation. The Carlyle Group employs more than 1,600 people in
31 offices across six continents. Visit www.carlyle.com to
learn more.
GSO Capital Partners
GSO Capital Partners, with
approximately $105 billion in assets
under management, is part of the credit platform of The Blackstone
Group, a leading global institutional alternative asset manager,
with assets under management of over $430
billion*. Visit www.blackstone.com/gso to learn more.
FS Investments
FS Investments is a leading asset
manager dedicated to helping individuals, financial professionals
and institutions design better portfolios. The firm provides access
to alternative sources of income and growth and focuses on setting
industry standards for investor protection, education and
transparency. FS Investments is headquartered in Philadelphia, PA with offices in New York, NY, Orlando, FL and Washington, DC. Visit www.fsinvestments.com to
learn more.
AE Industrial Partners
AE Industrial Partners is a
private equity investment company founded in 1998, by David Rowe and his late father, aviation pioneer
Brian Rowe, to make direct
investments in aerospace, power generation and specialty industrial
companies. Today AE Industrial is led by 11 partners with each
having an average of over 30 years of relevant operating and direct
investment experience. AE Industrial is focused on investing in
precision component manufacturing, distribution, MRO (maintenance,
repair and overhaul) and industrial service-based businesses that
are strategically important to their market places. AE
Industrial has invested in over 50 companies including: Aviall,
Dynamic Precision Group, Grand Prairie Accessory Services, Moeller
Aerospace, Landmark Aviation, Kellstrom Materials and Belcan
Corporation. Visit www.aeroequity.com to learn more.
Media Contact:
Aimee Talbert Nardini, Global Jet
Capital
561.212.1594
[mobile]
atalbertnardini@globaljetcapital.com
View original content with
multimedia:http://www.prnewswire.com/news-releases/global-jet-capital-completes-first-securitization-for-608-million-300606661.html
SOURCE Global Jet Capital