Ashland Place Prices Second Aviation Loan Asset-Backed Securitization

$414.4 million notes issuance is oversubscribed with A note pricing at +125bps,  a record low in the aviation loan ABS market to date

NEW YORK, Sept. 30, 2025 /PRNewswire/ -- Ashland Place Finance LLC ("Ashland Place"), a commercial aviation financing platform, today announced the pricing of APL Finance 2025-1. This is Ashland Place's second aviation loan asset backed securitization (ABS) following its inaugural transaction in 2023.

APL Finance 2025-1 will issue a total of $414.4 million 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 located in 13 jurisdictions. Proceeds from the notes, which were oversubscribed, will be used to acquire this portfolio of 11 loan facilities comprised of 26 loans.

Ashland Place believes APL Finance 2025-1 has a unique collateral pool with the loan facilities being 100% primary origination, 100% sole lender and 100% secured. Ashland Place will be the servicer on the transaction. The securitization will have four tranches of notes, with the A-tranche through C-tranche receiving investment grade ratings from KBRA.

"We are incredibly proud to be issuing our second – and largest – aviation loan ABS in just under two years since our first ABS transaction," said Jennifer Villa, Ashland Place's Executive Director and Group Head. "This transaction underscores our deep experience in aviation lending. We are encouraged by the strong demand for our second ABS transaction as we will continue to be active issuers in the aviation ABS market."

Citi served as the sole structuring agent. Citi and ATLAS SP Partners served as joint lead bookrunners, and Morgan Stanley served as joint bookrunner. Vinson & Elkins served as legal counsel to Ashland Place, and Milbank LLP served as legal counsel to Citi, ATLAS SP Partners and Morgan Stanley. Pivotal Corporate AMS Limited will serve as Managing Agent.

About Ashland Place Finance LLC
Ashland Place Finance LLC is an institutional financing platform offering innovative capital solutions to the global commercial aerospace industry. Ashland Place is a wholly-owned subsidiary of Davidson Kempner Capital Management LP. Additional information can be found at: www.ashlandplace.com.

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SOURCE Ashland Place