Global Jet Capital has closed its BJETS 2019-1 securitisation, raising approximately $517 million. BJETS 2019-1 is Global Jet Capital’s third ABS offering, bringing total assets securitised to over $2.1 billion.
The BJETS 2019-1 offering, which was launched earlier this month, contained three tranches of notes: a $417.4 million Class A tranche; a $62.3 million Class B tranche; and a $37.4 million Class C tranche. Each tranche was oversubscribed and attracted orders from a wide variety of investors.
Citigroup was the lead structuring agent and lead bookrunner for the transaction. Bank of America Merrill Lynch, Deutsche Bank Securities, Morgan Stanley, Carlyle Capital Solutions and FS/KKR were joint structuring agents and joint bookrunners for the BJETS 2019-1 securitisation. Global Jet Capital will continue to service the assets.
In conjunction with closing the BJETS 2019-1 securitisation, Global Jet Capital also extended the term of its $900 million senior secured revolving warehouse credit facility.