New York, New York: On May 2nd, 2019, Zephyrus Aviation Capital (”Zephyrus”) was awarded the coveted North America Deal of the Year for 2018 by AirFinance Journal for its initial Asset Backed Securities (ABS) transaction, ZCAP 2018-1 valued at $336.6M.
The transaction was for 21 mid- to late-life aircraft which includes a mix of predominantly narrowbody, in-production Airbus and Boeing aircraft.
Launched in 2018, Zephyrus is led by a highly skilled executive team and backed by Virgo Investment Group, a private investment firm based in the San Francisco Bay Area. The transaction marks the first time a newly launched platform and first time issuer has acquired aircraft directly into an ABS structure. The single A-tranche structure has a fixed coupon of 4.605% with a yield of 5.153%, and an LTV of 74%. The ABS has been rated A / A by S&P Global Ratings and Kroll Bond Rating Agency, respectively.
Damon J. D’Agostino, CEO of Zephyrus says, “Being oversubscribed by more than two times by sophisticated investors who know the space well shows the value and experience they place on the Zephyrus team. This prestigious award by AirFinance Journal underscores that fact within the industry. We are truly humbled by the recognition and I am proud of what the Zephyrus team was able to accomplish out of the gate.”
Over 85% of the aircraft were closed into the structure in the initial three months after closing.
About Zephyrus Aviation Capital
Zephyrus is an aircraft and engine leasing & trading company led by a team of industry veterans and focused on aircraft which are in the mid to mature stage of their lifecycle. Utilizing unparalleled industry relationships, leveraging a proven industry track record of transactional success, and employing innovative strategies, Zephyrus is a fleet management solutions provider with a customer-centric approach that creates value for all stakeholders. Zephyrus’ in-depth knowledge of aviation assets, coupled with industry leading partnerships, allows for innovative solutions across the aviation industry. For more information please visit www.zacap.aero or via email at contact@zacap.aero
