ECAF I SERIES 2015-1 | 05-15 | ABS | $1.2bn | 7xA319 + 10xA320 + 2xA321 + 3xA330-300 + 1x737-700 + 22x737-800 + 3x777-200ER + 1x777-300ER | Transaction | Airfinance Journal

ECAF I SERIES 2015-1 | 05-15 | ABS | $1.2bn | 7xA319 + 10xA320 + 2xA321 + 3xA330-300 + 1x737-700 + 22x737-800 + 3x777-200ER + 1x777-300ER

  • Deal No: 4967

Element Financial Corporation has closed US$1.21 billion debt offering of ECAF I Ltd., Series 2015-1 Notes. The Company acted as structurer in the formation of ECAF I Ltd. and sourced the third-party institutional equity co-investors in this new asset backed securities (ABS) issuer. The Company will also act as the ongoing Administrator to ECAF I Ltd. and has retained BBAM Aviation Services Limited, an affiliate of BBAM Limited Partnership, to act as the servicer with respect to the portfolio under the terms of a multi-year contract. 

The ABS deal is secured against the 49 aircraft aircraft from entities managed by affiliates of BBAM.

Canadian equipment finance group Element Financial Corporation is acting as structuring agent and administrator on the issuance with BNP Paribas acting as liquidity facility provider, and Deutsche Bank Securities, BNP Paribas and Citigroup Global Markets acting as joint lead bookrunners.

 

 

 

 

 

 

 

 

 

Deal Categories

Regions:
North America
United States
Tagged as:
Secured
Debt Capital Markets
G8

Structure

Product category:
Other
Product type:
Aircraft purchase
Structure
Aircraft Purchase
Use of proceeds
Aircraft Purchase

Deal Categories

Regions:
North America
United States
Tagged as:
Secured
G8