Castlelake, L.P., a global alternative investment manager with 15 years of tenure investing in, financing and managing aviation assets ("Castlelake"), announced today the pricing by Castlelake Aircraft Structured Trust 2017-1R of its $315 million Class A Notes, $75 million Class B Notes and $60 million Class C Notes (collectively, the "Notes"). Castlelake plans to use the net proceeds of the offering to refinance the existing Castlelake Aircraft Structured Trust 2017-1 transaction ("CLAS 2017-1"). The offering is expected to close on August 5, 2021, subject to the satisfaction of customary closing conditions.
This refinancing follows Castlelake's issuance of Castlelake Aircraft Structured Trust 2021-1 earlier this year, which was the first such transaction to be completed since the beginning of the global COVID-19 pandemic.
Castlelake has issued over $6 billion of aircraft ABS since beginning the program in 2014, making it one of the largest issuers in the market. Castlelake specializes in creative, flexible solutions for commercial aircraft and engines. The Castlelake Aviation team is comprised of more than 60 professionals with extensive experience in sourcing, underwriting and technical management.
The Notes are being offered and sold only to persons reasonably believed to be qualified institutional buyers, as defined in, and in reliance on Rule 144A under the Securities Act of 1933, as amended (the "Securities Act") and to non-U.S. persons in offshore transactions outside the United States in reliance on Regulation S under the Securities Act. The Notes will not be registered under the Securities Act or any other securities laws of any jurisdiction and will not have the benefit of any exchange offer or other registration rights. The Notes may not be offered or sold in the United Statesabsent registration or an applicable exemption from registration requirements.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the Notes nor does it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.