Blackbird Capital 1 | ABS | 10-16 | $800m | 6xA320 + 5x737-800 + 2xA321 + 2x777-300ER + 1xA319 +1xA330-300 + 1x787-9 + 1xE175

Blackbird Capital 1, the joint venture established by ALC and Napier Park Global Capital in 2014, is preparing to issue an $800 million asset-backed securities deal. The deal stands out for being the first aircraft ABS deal since 2012 to feature a AA-rated tranche. With a weighted average age of 3.3 years, the aircraft in the portfolio are also substantially younger than those in recent aircraft ABS transactions. The notes consist of three tranches: a...

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