KUALA LUMPUR, Oct 11 -- Wings Capital Partners LLC (Wings), a private, full-service aircraft leasing platform has closed an issuance of US$678,075,000 of fixed rate secured notes (the ‘Notes’) by WAVE 2019-1 LLC and WAVE 2019-1 Limited (WAVE). (US$1 = RM4.18).
It comprises US$555,531,000 of 3.597 per cent (Series A Notes); US$81,696,000 of 4.581 per cent (Series B Notes); and US$40,848,000 of 6.413 per cent (Series C Notes).
Proceeds from the issuance of the Notes will be used by WAVE to acquire a portfolio of 23 Airbus and Boeing jet aircraft consisting of 100 per cent in-production narrowbody jet aircraft on lease to a diversified pool of 17 customers in 13 countries.
The Series A Notes, Series B Notes and Series C Notes were rated A, BBB and BB, respectively by Standard & Poor’s and Kroll Bond Rating Agency.
Wings and its Irish affiliate, Wings Capital Partners Aviation Ireland Limited will act as servicers with respect to the aircraft. In connection with this issuance, Wings utilised a standby letter of credit to access a large portion of the proceeds.
Goldman Sachs & Co. LLC acted as the Global Coordinator, Lead Bookrunner and Lead Structuring Agent, Deutsche Bank Securities acted as Joint Lead Bookrunner, while Credit Agricole Securities acted as Joint Structuring Agent and Joint Lead Bookrunner.
-- BERNAMA
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