KBRA DLD has assigned a preliminary rating to a series of notes issued by Willis Lease Finance Corporation Engine Structured Trust VII (WEST VII), an aviation asset-backed securities (ABS) transaction. This is the eighth aviation ABS transaction and the fifth rated by KBRA, sponsored and serviced by Willis Lease Finance Corporation and its affiliates and the first public aviation ABS transaction in over 16 months.
The notes' proceeds will be used to acquire a portfolio of aviation assets, including 34 narrowbody engines (72.7% of the portfolio's value), three regional jet engines (7.2% of the portfolio's value), four airframes (2.8% of the portfolio's value), one widebody engine (2.7% of the portfolio's value), and six turboprop engines (12.4% of the portfolio's value). These assets are on lease to 18 lessees in 16 countries, with an additional seven narrowbody host engines off-lease. The initial value of the portfolio is approximately $567.9 million.
Impressive milestone! Wishing ACG continued success with their new investors onboard.