Apollo Aviation Group prices AASET 2018-1 trust



Apollo Aviation Group has priced its fifth aircraft portfolio transaction: AASET 2018-1 Trust (“AASET 2018-1”), the company said.

AASET 2018-1 will issue USD 442.276 million of Secured Notes that will be used to acquire a fleet of 24 aircraft.

AASET 2018-1 will issue three tranches of Secured Notes with the following principal amounts and coupons: USD 351.689 million Class A Fixed Rate Secured Notes Series 2018-1 at 3.844%, USD 58.615 million Class B Fixed Rate Secured Notes Series 2018-1 at 5.437%, and USD 31.972 million Class C Fixed Rate Secured Notes Series 2018-1 at 6.413%. Apollo Aviation Management Limited, an affiliate of Apollo Aviation, will act as servicer for the transaction. The Class A Fixed Rate Secured Notes Series 2018-1 will be sold at a price equal to 99.99985% of their face value, with an effective yield of 3.875%. The Class B Fixed Rate Secured Notes Series 2018-1 will be sold at a price equal to 99.99695% of their face value, with an effective yield of 5.500%. The Class C Fixed Rate Secured Notes Series 2018-1 will be sold at a price equal to 99.99902% of their face value, with an effective yield of 6.500%.

Apollo Aviation Group is a multi-strategy aviation investment manager that seeks to capitalize on its extensive technical knowledge, in-depth industry expertise and long-standing presence in the mid-life commercial aviation sector. Founded in 2002, Apollo has grown to USD 5 billion1 of aviation assets under management representing over 180 aircraft and 21 aircraft engines. It has offices in the US, Ireland and Singapore.