30 November 2018
McCann FitzGerald advises BBAM Aviation Services and Horizon Aircraft Finance I Limited, in connection with an Asset Back Securitisation involving 29 Aircraft
We advised BBAM Aviation Services, as Originator and Servicer and Horizon Aircraft Finance I Limited, as Notes Issuer, on this ABS involving 29 BBAM managed aircraft.
The US$612 million Horizon Aircraft Finance I ABS is backed by a portfolio of 29 narrow-body aircraft with an initial assessed value of US$737.7 million.Three tranches of notes have been issued in the transaction. The proceeds from the notes sale will be used to acquire the aircraft on lease to 21 airlines in 19 countries. Industry experts noted that the Horizon ABS was one of the quickest ABS transactions to close following its launch, on 5 November 2018 to its funding on 30 November 2018.