Apollo Aviation Prices AASET 2017-1 Trust
MIAMI & DUBLIN & SINGAPORE--(BUSINESS WIRE)--Apollo Aviation Group (“Apollo Aviation”) priced its fourth aircraft portfolio transaction on Thursday, May 25, 2017: AASET 2017-1 Trust (“AASET 2017-1”). AASET 2017-1 will issue $612.228 million of secured notes that will be used to acquire a fleet of 32 aircraft.
AASET 2017-1 will issue three tranches of Secured Notes with the following principal amounts and coupons: $479.456 million Class A Fixed Rate Secured Notes Series 2017-1 at 3.967%, $88.515 million Class B Fixed Rate Secured Notes Series 2017-1 at 5.926%, and $44.257 million Class C Fixed Rate Secured Notes Series 2017-1 at 7.385%. Apollo Aviation Management Limited, an affiliate of Apollo Aviation, will act as servicer for the transaction. The Class A Fixed Rate Secured Notes Series 2017-1 will be sold at a price equal to 99.99949% of their face value, with an effective yield of 4.0%. The Class B Fixed Rate Secured Notes Series 2017-1 will be sold at a price equal to 99.99818% of their face value, with an effective yield of 6.0%. The Class C Fixed Rate Secured Notes Series 2017-1 will be sold at a price equal to 99.99818% of their face value, with an effective yield of 7.5%.
The Secured Notes to be issued by AASET 2017-1 in the transaction have not been registered under the United States Securities Act of 1933, as amended (the “Securities Act”), and are being offered only to qualified institutional buyers pursuant to Rule 144A under the Securities Act and outside the United States to non-U.S. persons in accordance with Regulation S under the Securities Act. The Secured Notes may not be sold in the United States absent registration under the Securities Act or pursuant to an applicable exemption from registration requirements under the Securities Act.