Vx Capital Partners issues $189 million of loans via securitization

By Angela McDaniels

Tacoma, Wash., Jan. 24 – Vx Capital Partners closed a loan-format aircraft securitization that generated $189 million across three classes of term loans, according to a company news release.

The three classes of loans were rated A, BBB and BB by Kroll Bond Rating Agency, and proceeds will be used to acquire 35 aircraft with a maintenance-adjusted base value of $249 million.

BNP Paribas was the lead structuring agent, and Nord LB and DVB were co-managers. UMB is acting as the trustee, Canyon CTS as the managing agent and DVB as the liquidity facility provider.

The San Francisco-based company said this is its inaugural asset-backed deal.

Vx Cargo 2018-1 Trust will be serviced by Vx through an affiliate, and the equity in the transaction will be retained by Vx Freighter Investment Fund.

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