AerCap Holdings’ wholly-owned subsidiary, AerCap Ireland Limited, has signed and completed an agreement with a subsidiary of Guggenheim Partners, under which AerCap has sold its equity interest in Aircraft Lease Securitisation Limited (ALS) by transferring 100% of its interest in the E-Notes, the equity securities issued by ALS, to Guggenheim. ALS is an asset backed securitisation vehicle with a portfolio of fifty aircraft valued at approximately $1 billion. The portfolio is leased to 26 different airlines.
As part of the agreement, AerCap will continue to service and manage the aircraft portfolio.
Aengus Kelly, CEO of AerCap said: "We are pleased to announce this transaction which is part of AerCap's continuous portfolio management strategy. As one of the aviation industry's leading servicers of aircraft securitisations, we look forward to working with Guggenheim in supporting the continued success of ALS."
"We believe that aviation finance is an attractive investment sector and this transaction provided a compelling investment opportunity for a segment of our clients," said Scott Minerd, Chief Investment Officer of Guggenheim Partners. "Working in concert with our commercial aviation investment management group, Guggenheim Aviation Partners, we are able to leverage extensive expertise in evaluating aviation investments for our managed account clients."
AerCap sells equity interest in $1 billion aircraft lease securitisation to Guggenheim Partners
