Aviation Asset Backed Securities Issued; Aviation Capital Group Completes $687 Million in Bond Issues.Business Editors STAMFORD, Conn.--(BUSINESS WIRE)--Dec. 7, 2000 Aviation Capital Group Thursday announced the issuance of $687 million of bonds by Aviation Capital Group Trust. The bonds are structured in four classes, and backed by 30 commercial jet aircraft and their attendant ATTENDANT. One who owes a duty or service to another, or in some sort depends upon him. Termes de la Ley, h.t. As to attendant terms, see Powell on Morts. Index, tit. Attendant term; Park on Dower, c. 1 7. leases. The aircraft include the Airbus A320 and the Boeing 737, 757 and 767, which are leased to 22 airlines worldwide. The aircraft types reflect the Aviation Capital Group's current portfolio and acquisition strategy. The securities were acquired by 30 institutional investors Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. . Mark Tuminello, director of transportation for asset backed securities at First Union Securities, the transaction underwriter underwriter n. a company or person which/who underwrites an insurance policy, issue of corporate securities, business, or project. (See: underwrite) UNDERWRITER, insurances. One who signs a policy of insurance, by which he becomes an insurer. , reported that the offering was received very well by investors both in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Europe, reflecting the quality of the servicer, Aviation Capital Group and the portfolio. The company is planning another aircraft backed securitization Securitization The process of creating a financial instrument by combining other financial assets and then marketing them to investors. Notes: Mortgage backed securities are a perfect example of securitization. May also be spelled as "securitisation. in 2001. Aviation Capital Group, a Pacific LifeCorp affiliate, is engaged in the acquisition and leasing of commercial jet aircraft, including the Airbus A320 family, Boeing 737 family, Boeing 757 and select widebody and freighter aircraft. Originally founded in 1989, Aviation Capital Group currently owns and manages a portfolio of 51 commercial aircraft valued in excess of $1 billion. The Aviation Capital Group has offices in Stamford, Newport Beach Newport Beach, residential and resort city (1990 pop. 66,643), Orange co., S Calif., on Newport Bay and the Pacific Ocean; inc. 1906. It is a popular seaside resort and yachting center. Manufactures include electrical and medical equipment, computers, boats, and adhesives. , Calif., San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden and London. The company is consolidating its two California offices to Newport Beach, where Pacific LifeCorp is based. Pacific LifeCorp is the parent company of Pacific Life Insurance Co. (www.PacificLife.com). Founded in 1868, Pacific Life provides life and health insurance products, individual annuities and group employee benefits, and offers to individuals, businesses and pension plans a variety of investment products and services. Over the past five years, the Years, The the seven decades of Eleanor Pargiter’s life. [Br. Lit.: Benét, 1109] See : Time company has grown from the 25th to the 16th largest life insurance company in the nation(a). The Pacific Life family of companies manages more than $330 billion in assets, making it one of the largest financial institutions in America, and currently counts 67 of the 100 largest U.S. companies as clients(b). (a) Source: The Townsend & Schupp Co., as of Dec. 31, 1999. (b) Data compiled by Pacific Life using the 2000 FORTUNE 500(R) list. |
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