DUBLIN, June 4, 2019 – Goshawk Aviation Limited (“Goshawk”) today announced the sale of a portfolio of 18 aircraft to Pioneer Aircraft Finance Limited and Pioneer Aircraft Finance LLC (collectively “Pioneer”), a newly formed ABS entity. The portfolio comprises of 16 x narrowbody, 1 x widebody and 1 x regional aircraft. As at March 31 2019, the aircraft had an average age of 5.3 years and were on lease to 18 different lessees (the “Aircraft”). Goshawk Management (Ireland) Limited will act as Servicer and Asset Manager.
The Pioneer ABS structure included three series of fixed rate notes (the “Notes”) in addition to equity certificates in 144A / Reg S format with CUSIP and ISIN. 30% of the equity certificates are held by one or more funds and/or accounts managed or advised by Beach Point Capital Management LP, as the anchor investor. Goshawk retained 10% of the equity certificates.