Global Jet Capital, a business aircraft financial solutions provider, has closed its BJETS 2026-1 securitisation, raising approximately $659.0 million. BJETS 2026-1 is Global Jet Capital's ninth asset-backed security (ABS) offering, bringing total assets securitised to approximately $6.7 billion and bonds issued to approximately $5.4 billion.

The BJETS 2026-1 offering contained three tranches of notes: a $561.39 million Class A tranche, a $56.95 million Class B tranche and a $40.68 million Class C tranche. S&P Global Ratings and Kroll Bond Rating Agency LLC assigned BJETS 2026-1 ratings of A/A, BBB+/BBB and BB/BB on the Class A, B and C tranches, respectively. The transaction attracted 41 unique investors, 12 of which were new to the BJETS programme.

As with previous BJETS issuances, BJETS 2026-1 securitises the cash flows from business aircraft loans and leases representing a diverse group of obligors and assets. BJETS 2026-1 includes 28 leases and loans to corporations and global business leaders representing 20 unique industries. Sixteen different aircraft models, primarily mid- to large-cabin business aircraft, are represented in the transaction.

Morgan Stanley was the lead structuring agent and lead bookrunner and Deutsche Bank Securities, BofA Securities, Citigroup Global Markets, KKR Capital Markets and TCG Capital Markets were joint structuring agents and joint bookrunners for the BJETS 2026-1 transaction. In addition, Citizens JMP Securities & PNC Capital Markets were co-managers. Global Jet Capital will continue to service the securitised assets.

Vivek Kaushal, CEO of Global Jet Capital, states: “The success of our latest issuance reflects our continued portfolio performance and execution, which is made possible by the dedication and hard work of the entire Global Jet Capital team. As always, we are grateful for the ongoing support of our lenders and investors and their commitment and confidence in our business.”