Wings Capital Partners LLC (“Wings”) announced today the issuance of $480,067,000 of fixed rate secured notes (the “Notes”) by WAVE 2017-1 LLC and WAVE 2017-1 Limited (“WAVE”), comprised of $393,308,000 of 3.844% Series A Notes, $57,839,000 of 5.682% Series B Notes and $28,920,000 of 6.656% Series C Notes. Proceeds from the issuance of the Notes will be used by WAVE to acquire a portfolio of 19 Airbus and Boeing jet aircraft consisting of 18 narrowbody jet aircraft and 1 widebody jet aircraft on lease to a diversified pool of 17 customers in 14 countries.
Wings and its Irish affiliate, Wings Capital Partners Aviation Ireland Limited, will act as servicers with respect to the aircraft.
Goldman Sachs & Co. LLC, Credit Agricole Securities and Wells Fargo Securities acted as Co-Structuring Agents and Joint Bookrunners on the transaction.
Wings and WAVE were advised by Clifford Chance US LLP, and Milbank, Tweed, Hadley & McCloy LLP acted as counsel to the Structuring Agents and Bookrunners.