Canyon is Managing Agent for Zephyrus Capital Aviation Partners (ZCAP 2018-1) Inaugural ABS
10th October, 2018: Canyon Financial Services Limited (“Canyon”) is pleased to announce that we have been appointed as the Managing Agent for Zephyrus Capital Aviation Partners (ZCAP 2018-1) inaugural Asset Backed Securitisation (“ABS”) of $336.6 million secured notes to finance the acquisition of a portfolio of aircraft.
Zephyrus is backed by funds managed by Virgo Investment Group. Seabury Capital Group served as the sole investment banking advisor to Zephyrus and is a minority equity investor.
The ABS portfolio consists of 21 aircraft, containing a mix of 18 narrow-body and 3 wide-body jet aircraft, currently on lease to 19 lessees spanning 14 countries.
“We are pleased to be supporting Zephyrus Aviation Capital in this ground-breaking transaction with a newly-launched company acquiring a substantial portfolio directly into an ABS transaction. Our Aircraft ABS division is a significant growth sector for us as strong demand exists in the market for ABS structures and this most recent financing demonstrates the capabilities of the team at Canyon to deliver complex transactions”.
David Evans, Managing Director, North America, Canyon
Alongside Canyon in our role of Managing Agent for the transaction, Deutsche Bank is the Sole Structuring Agent and Lead Arranger; UMB Bank is the Trustee and DVB Bank is providing the Liquidity Facility.
Below is the link to the Zephyrus Aviation Capital press release containing details of the transaction.