Dubai Aerospace Enterprise has disclosed pricing for its sale of 21 narrowbodies through a $410 million asset-backed securitisation.
Falcon 2017-1 will issue three tranches of secured term loans: $315 million-worth of 4.581% Class A loans, $65 million of 6.30% Class B loans, and $30 million of 8.353% Class C loans.
DAE will act as servicer for the transaction.
"We are extremely pleased with the very successful pricing of our inaugural ABS transaction," states chief executive Firoz Tarapore.
"We welcome the opportunity to broaden our financing base and partner with sophisticated investors in the US capital markets. This transaction will help us achieve our goal of substantially increasing our footprint in the aircraft leasing space."
Source: Cirium Dashboard
