CIT to sell first aircraft ABS since 2008

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By Matthew Scully
30 Jun 2014

Commercial bank CIT Group is tapping into securitization markets with its first aircraft ABS since 2008, at a time when investors are searching for higher-yielding supply and new issuance for aircraft deals is trailing analysts’ expectations.

The aviation finance business of the New York commercial lender on Monday began marketing a $640m aircraft ABS that it will sell with the help of structuring agent Goldman Sachs. The deal, CAF III, will be rated single-A by Fitch Ratings and Standard & Poor's.

“The ...

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