GILEAD 2025-1 ABS

Airplane flying through clouds with Gilead text on side.

Fexco Aviation Services Ltd is delighted to be appointed as Managing Agent to Gilead 2025-1 Aviation Limited. The $600 million issuance of Asset Backed Securities closed with the most favourable pricing achieved since 2021. The Class A $520 million Notes have a 5.789% coupon and a 5.860% yield. The class B $80 million notes have a 6.524% coupon and a yield of 6.614%.

Lead structuring agent and joint lead bookrunner was Mizuho Securities and co-structuring agent and joint lead bookrunner was MUFG Securities America. Credit Agricole Corporate and Investment Bank (CIB) acted as liquidity facility provider. Joint leads were Citigroup, Credit Agricole CIB, Mitsubishi UFJ Financial Group, RBC Capital Markets, Societe Generale, and Truist Bank.

Fexco has been Managing Agent from inception of the Warehouse financing through to the ABS. This deal reflects a significant strengthening in the aviation ABS market rebound and a great addition to the Fexco ABS portfolio.