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Airline Economics Names GE Capital Aviation Services’ $650 Million Bulk Sale to AABS Limited as Americas Deal of the Year - GE Capital Aviation Services Limited (GECAS) announced it received an award for “Americas Deal of the Year” from Airline Economics for its participation in the 2013 AABS Limited transaction - GECAS.com
Airline Economics Names GE Capital Aviation Services’ $650 Million Bulk Sale to AABS Limited as Americas Deal of the Year

 

NewswireToday - /newswire/ - Shannon, Ireland, 2014/01/22 - GE Capital Aviation Services Limited (GECAS) announced it received an award for “Americas Deal of the Year” from Airline Economics for its participation in the 2013 AABS Limited transaction - GECAS.com. NYSE: GE

   
 
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GE Capital Aviation Services Limited (GECAS), the commercial aircraft leasing and financing arm of GE, today announced it received an award for “Americas Deal of the Year” from Airline Economics for its participation in the 2013 AABS Limited transaction.

The $650 million aircraft sale by GECAS to AABS and AABS’ equity placement and aircraft securitization closed in January 2013 and involved 26 narrowbody aircraft on lease with 16 different airlines across 11 countries. It received strong investor appeal, pricing at 101 percent above par.

“We honored and recognized the large and innovative sale and securitization as a truly groundbreaking deal in 2013,” said Victoria Tozer-Pennington, editor, Airline Economics. “It demonstrated the continued strength of the aircraft financing sector and exemplified GECAS’ leadership.”

“Our ability to handle large, complex aircraft financing transactions is what sets us apart from other firms,” said Trevor Ricards, senior vice president of capital markets for GECAS. “We’re thrilled to be recognized by Airline Economics and appreciate the honor.”

In November 2013, the AABS Limited securitization was awarded “2013 Aircraft Lessor Finance Deal of the Year��� by Global Transport Finance.

Goldman Sachs acted as the sole structuring agent and global coordinator. Goldman, BNP Paribas and Credit Agricole acted as joint lead arrangers and Deutsche Bank acted as co-manager. Milbank Tweed, Hadley & McCloy acted as legal counsel for the lenders while Clifford Chance advised GECAS.

About GE Capital Aviation Services (GECAS)

GECAS (GECAS.com), the U.S. and Irish commercial aircraft financing and leasing business of GE, has a fleet of over 1,620 owned and serviced aircraft with over 230 airlines. With 40+ years of industry experience, GECAS is recognized as the pre-eminent airline leasing company in the world, offering a wide range of aircraft types and financing options, including operating leases and secured debt financing. GECAS also provides an ever expanding array of productivity solutions including spare engine leasing, airport and airline consulting services, and spare parts financing and management. GECAS, a unit of GE Capital, has offices in 23 cities around the world, and services customers in 74 countries.

GE (ge.com) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works.

 
 
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Written by / Agency / Source: General Electric Company

 
 

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Airline Economics Names GE Capital Aviation Services’ $650 Million Bulk Sale to AABS Limited as Americas Deal of the Year

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GE News Center | AABS Limited
Publisher Contact: Dan Whitney - GE Capital Aviation Services 
203-585-2268 / 203-300-8707 (mobile) dan.whitney[.]ge.com
 
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