DUBLIN, Ireland, Nov. 15, 2016 (GLOBE NEWSWIRE) -- Blackbird Capital I LLC ("Blackbird"), announced today that Blackbird Capital Aircraft Lease Securitization Limited 2016-1 ("BBIRD Cayman") and Blackbird Capital Aircraft Lease Securitization US LLC 2016-1 ("BBIRD USA", and collectively, the "Issuers") have closed an $800,000,000 Fixed Rate Notes offering, comprised of US$200,000,000 of 2.487% Series AA Fixed Rate Notes ("Series AA Notes"), US$540,000,000 of 4.213% Series A Fixed Rate Notes ("Series A Notes") and US$60,000,000 of 5.682% Series B Fixed Rate Notes ("Series B Notes", and together with the Series AA Notes and Series A Notes, the "Notes"). The Issuers also offered subordinated notes comprised of Fixed Rate Series R-1, R-2, R-3 and D Notes and a Series E Note representing the equity interest in BBIRD Cayman, each of which were purchased by an affiliate of Blackbird. The subordinated notes offer regulated investors, with sensitivity to risk-based capital, a more efficient means of accessing equity-like investments in this asset class.
The Series AA Notes, Series A Notes and Series B Notes were rated AA, A and BBB, respectively, by S&P and by Kroll. The Notes are backed by a portfolio of 19 aircraft (the "Aircraft") which will be acquired by the Issuers. The Aircraft comprise a mix of narrowbody and widebody jet aircraft that, as of September 30, 2016, had an average age of 3.28 years and were leased or expected to be leased to 16 lessees based in 13 countries. Air Lease Corporation and its Irish affiliate, ALC Aircraft Limited, will act as servicers with respect to the Aircraft.