Global Jet Capital Deepens Lending Capacity

Business aviation financing provider Global Jet Capital completed a second securitization round for the year, raising approximately $674 million, with the closing of its BJETS 2018-2 asset-backed security (ABS) offering. The transaction, which was on the market for less than a week, attracted a wide variety of investors and was oversubscribed, according to the lender.

“This is a continuation of the development of the corporate jet asset class for the ABS market, which started with the issuance of BJETS 2018-1, the first ABS capital markets financing backed exclusively by business jet operating leases and loans,” explained company CEO Shawn Vick. “The transaction generated strong demand from a diverse investor base at tighter overall yields than BJETS 2018-1 despite widening benchmarks, reflecting growing support for the company’s strategy and performance.”

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Global Jet Capital Sees Increased Interest in Asia

Company forecasts up to 90 midsize-to-large cabin business jet deliveries to the Asia Pacific region each year for the next decade.

Along with the closing of BJETS 2018-2, Global Jet Capital also completed a new $900 million, five-year senior secured warehouse revolving credit facility with Deutsche Bank, Bank of America, and Morgan Stanley. It now has more than $1.5 billion in total securitized assets.