Canyon is Managing Agent for GECAS STARR III ABS
November, 2019: Canyon Financial Services Limited, a Vistra Group company (“Canyon”) is pleased to announce that we have been appointed as the Managing Agent for GECAS’s STARR III Asset Backed Securitisation (“ABS”) of $446 million secured notes to finance the acquisition of a portfolio of aircraft.
The ABS portfolio consists of 20 aircraft, all of which are narrow-body aircraft, currently on lease to 17 lessees located in 14 countries.
“We are delighted to support GE Capital Aviation Services (GECAS) on this transaction. 2019 was a record year for ABS issuance with 18 deals in total, and it was a record for Canyon with 7 Managing Agent appointments. GECAS’s decision to appoint Canyon again to the role of Managing Agent is testament to our record of service delivery and competency.” – David Evans, Managing Director, North America, Canyon
Alongside Canyon in our role of Managing Agent for the transaction, Deutsche Bank Securities is the Lead Structuring Agent and Lead Bookrunner; Citibank, N.A. is the Security Trustee, Operating Bank and Trustee; Crédit Agricole Corporate and Investment Bank is the Liquidity Facility Provider; and Crédit Agricole Corporate and Investment Bank and Natixis S.A. provide the Standby LCs.