United EETC securitization scheduled for take-off
United Airlines has added another deal to the aircraft ABS pipeline, bringing an Enhanced Equipment Trust Certificate (EETC) offering that will finance the acquisition of 16 aircraft.
EETC deals are backed by principal and interest payments from a single carrier, and are collateralised by a bankruptcy-remote pool of the company’s planes.Credit Suisse and Citi are joint structuring agents on the $935.14m offering. Moody’s and Fitch Ratings assigned preliminary ratings of Aa3/AA to the $677.17m ...
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