Aviation Capital Group Trust, an aircraft securitization special purpose vehicle (the Trust), has commenced a solicitation of consents of the holders of the Class A-1 Notes, Class B-1 Notes, Class C-1 Notes and Class D-1 Notes to various amendments to the indenture, dated as of December 6, 2000, governing the Notes.
The proposed amendments require the consents of the holders of at least a majority of the outstanding principal balance of the Notes, voting as a single class. As of September 15, 2011, the most recent payment date, the outstanding principal balance of the Notes was $373,597,609.94. No fees will be paid by the Trust to the holders of any of the Notes in connection with the consent solicitation. The record date for the consent solicitation is 5:00 p.m., New York City time, on September 23, 2011. The proposed amendments are described more fully in the Consent Solicitation Statement, dated September 27, 2011, which is accompanied by the Consent Form for holders of the Notes.
The overall purpose of the proposed amendments, as described more fully in the Consent Solicitation Statement, is to provide the Trust with the flexibility to manage its portfolio, financial resources and expenses in a manner that better reflects the current market and other conditions affecting the Trust and its portfolio.
The Trust is an aircraft securitization special purpose vehicle. Aviation Capital Group Corp. owns indirectly 10% of the equity interests in the Trust and acts as the Administrative Agent and Remarketing Agent for the Trust, but the Trust is not a consolidated entity of Aviation Capital Group Corp.