First Commercial Aircraft ABS Issuance in Two Years 

MIAMI, DUBLIN, SINGAPORE – June 18, 2024 – Carlyle Aviation Partners Ltd. (“Carlyle Aviation Partners”) today announced it has closed its fifteenth aircraft portfolio transaction: AASET 2024-1 Trust (“AASET-2024-1”). AASET 2024-1 issued $428 million of Secured Notes that will be used to purchase a portfolio of twelve aircraft, including ten narrowbody and two widebody aircraft.

AASET 2024-1 marks the first commercial aircraft asset-backed securitization (ABS) issuance in two years, signaling a re-opening of the market.

“We are pleased with the outcome of this transaction, which marks Carlyle Aviation Partners’ tenth year accessing the ABS markets and signals the re-opening of the aircraft ABS market after two years of inactivity,” said William Hoffman, Chairman and Co-Founder of Carlyle Aviation Partners. 

“We believe our strong brand and track-record in the space contributed to the transaction’s success,” said Javier Meireles, Chief Financial and Operating Officer of Carlyle Aviation.

Goldman Sachs was sole structuring agent, global coordinator, and joint lead bookrunner. Milbank LLP was the issuer counsel and Phoenix American was the managing agent.  

The Secured Notes to be issued by AASET 2024-1 in the transaction have not been registered under the United States Securities Act of 1933, as amended (the “Securities Act”), and were 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.