We acted for Ashland Place Finance LLC (Ashland Place) on its second aviation loan asset-backed securitisation (ABS), APL Finance 2025-1.
The transaction builds on Ashland Place's inaugural ABS in 2023, which we also advised on, and reflects the incredible growth in its commercial aviation financing platform backed by Davidson Kempner Capital Management.
APL Finance 2025-1 involved the issuance of $414.4m of notes backed by a static pool of loan facilities secured by 13 narrowbody aircraft, eight freighter aircraft, two widebody aircraft and three narrowbody host aircraft engines on lease to 15 lessees across 13 jurisdictions. The notes were oversubscribed, with the A tranche pricing at +125bps - a record low in the aviation loan ABS market to date.
A cross-disciplinary team advised on the transaction, led by Asset Finance partner Matt Hedigan, associates Owen O'Hanrahan and Ciara Kearney and trainee Dylan Kirwan, and Tax consultant Padhraic Mulpeter and senior associate Michael Gallagher. We also acted as listing agent for the notes, with Therese Redmond and Ken Foley leading from our listings team.
Matt said: 'We are very proud to have once again supported Ashland Place on this ABS issuance. This second ABS issuance less than two years after their inaugural issuance is a tremendous achievement for Jennifer Villa and the Ashland Place team reflecting the strength of their platform and the confidence of the market in their approach."
We've supported Ashland Place since the launch of its commercial aviation financing platform in 2021 and continue to advise on its growth in the aviation ABS market.