Global Jet Capital, a provider of financing solutions for business aircraft, announced the closing of its BJETS 2026-1 securitization, raising approximately $659 million. The transaction marks the company’s ninth asset-backed securities (ABS) issuance and brings its total securitized assets to approximately $6.7 billion and total bonds issued to about $5.4 billion.
The BJETS 2026-1 offering consisted of three tranches, including a $561.39 million Class A tranche, a $56.95 million Class B tranche, and a $40.68 million Class C tranche. S&P Global Ratings and Kroll Bond Rating Agency assigned ratings of A/A, BBB+/BBB, and BB/BB to the Class A, B, and C tranches, respectively.
The securitization attracted 41 investors, including 12 participants new to the BJETS program.
As with previous BJETS transactions, the offering securitizes cash flows generated from business aircraft loans and leases. The portfolio includes 28 loans and leases across corporations and business leaders operating in 20 industries and features 16 aircraft models, primarily mid- to large-cabin business jets.
Morgan Stanley served as lead structuring agent and lead bookrunner. Deutsche Bank Securities, BofA Securities, Citigroup Global Markets, KKR Capital Markets, and TCG Capital Markets acted as joint structuring agents and joint bookrunners, while Citizens JMP Securities and PNC Capital Markets served as co-managers. Global Jet Capital will continue servicing the securitized assets.
KEY QUOTE:
“The success of our latest issuance reflects our continued portfolio performance and execution, which is made possible by the dedication and hard work of the entire Global Jet Capital team. As always, we are grateful for the ongoing support of our lenders and investors and their commitment and confidence in our business.”
Vivek Kaushal, Chief Executive Officer of Global Jet Capital
