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AerCap Holdings to sell $1B in asset-backed bonds

By Associated Press
June 26, 2008 | Comments (0)

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Dutch aircraft-leasing company AerCap Holdings N.V. said Thursday it has reached a $1 billion securitization deal to finance the purchase of 30 new Airbus A320 planes.

The aircraft are part of a 70 plane order that AerVenture Ltd., a joint venture between AerCap and Kuwaiti partners LoadAir and Al Fawares, placed in January 2006.

A number of banks have agreed to provide funding up front in exchange for asset-backed securities that use the planes as collateral. Those bonds will then be sold to investors in much the same way as mortgage-backed securities or other similar securitized bonds.

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