Global Jet Capital announced the closing of its BJETS 2021-1 securitization on March 16, raising approximately $663 million. BJETS 2021-1 is Global Jet Capital’s fifth ABS offering, bringing total assets securitized to over $3.6 billion and bonds issued to over $2.9 billion.
The BJETS 2021-1 offering contained three tranches of notes, each of which was oversubscribed and attracted orders from over 40 investors. Over 20 different aircraft models – primarily mid- to large-cabin business aircraft – are represented in the transaction.
The transaction is comprised of over 45 corporations and global business leaders, representing over 10 different industry segments from pharmaceuticals to consumer durables.
Shawn Vick, CEO of Global Jet Capital, stated, “We are very pleased with the outcome related to BJETS 2021-1, which is coming off the heels of the success we had with BJETS 2020-1. With each new issuance, we are bringing in new investors to the platform – in this case, 15 new accounts. The transaction was seven times subscribed, and our coupon rates again improved as the ABS market continues to show growing understanding and confidence in the business aviation sector and Global Jet Capital.”
Since its inception, Global Jet Capital has now deployed over $5B into the business aviation eco-system. The latest ABS was the strongest to-date.
BJETS 2021-1 follows a very successful 2020 for Global Jet Capital that included effectively protecting our employees through work from home measures, a strong year for originations, and our fourth successful ABS offering.
Looking back on 2020, the resilience of the business aviation market is not surprising, as the industry came into the COVID crisis demonstrating all the signs of a mature, stable market. Looking forward, it’s expected that the business aviation market will pick up steam throughout the year as the vaccine rates increase and travel restrictions ease up.
Read the full press release for more information: https://blog.globaljetcapital.com/en/press-releases/global-jet-capital-completes-securitization-raising-663m