First Commercial Aircraft ABS Issuance in Two Years
MIAMI, DUBLIN, SINGAPORE – June 18, 2024 – Carlyle Aviation Partners Ltd. (“Carlyle Aviation Partners”) today announced it has closed its fifteenth aircraft portfolio transaction: AASET 2024-1 Trust (“AASET-2024-1”). AASET 2024-1 issued $428 million of Secured Notes that will be used to purchase a portfolio of twelve aircraft, including ten narrowbody and two widebody aircraft.
AASET 2024-1 marks the first commercial aircraft asset-backed securitization (ABS) issuance in two years, signaling a re-opening of the market.
“We are pleased with the outcome of this transaction, which marks Carlyle Aviation Partners’ tenth year accessing the ABS markets and signals the re-opening of the aircraft ABS market after two years of inactivity,” said William Hoffman, Chairman and Co-Founder of Carlyle Aviation Partners.
“We believe our strong brand and track-record in the space contributed to the transaction’s success,” said Javier Meireles, Chief Financial and Operating Officer of Carlyle Aviation.
Goldman Sachs was sole structuring agent, global coordinator, and joint lead bookrunner. Milbank LLP was the issuer counsel and Phoenix American was the managing agent.
The Secured Notes to be issued by AASET 2024-1 in the transaction have not been registered under the United States Securities Act of 1933, as amended (the “Securities Act”), and were offered only to qualified institutional buyers pursuant to Rule 144A under the Securities Act and outside the United States to non-U.S. persons in accordance with Regulation S under the Securities Act. The Secured Notes may not be sold in the United States absent registration under the Securities Act or pursuant to an applicable exemption from registration requirements under the Securities Act.
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About Carlyle Aviation Partners
Carlyle Aviation Partners is the commercial aviation investment and servicing arm of Carlyle's Global Credit business, with $186 billion in assets under management as of March 31, 2024. It is a multi-strategy aviation investment manager that seeks to capitalize on its extensive technical knowledge, in-depth industry expertise and long-standing presence in the aviation sector. As of March 31, 2024, it has a team of more than 120 employees and offices in the US, Ireland and Singapore. For more information, visit www.carlyle.aero.
About Carlyle
Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $425 billion of assets under management as March 31, 2024, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 2,200 people in 28 offices across four continents. Further information is available at www.carlyle.com. Follow Carlyle on X @OneCarlyle and LinkedIn at The Carlyle Group.
Contacts:
Investors
Danielle Calleja
786-476-2394
daniellec@carlyle.aero
Carlyle Aviation Partners
Media
Kristen Ashton
(212) 813-4763
kristen.ashton@carlyle.com
Carlyle