Stellwagen issues $116 million loan to CALC

Stellwagen issues $116 million loan to CALC

Aviation financing firm Stellwagen Capital has issued its first loan through its new investment fund, worth $116 million, to Chinese Aircraft leasing Group (CALC).

The new fund, Stelloan Investment Company, provided the 10-year asset-backed loan to CALC to finance the purchase of a new Airbus A321. Stellwagen will also be financing a second A321 acquisition by CALC in September.

The loan has a balloon structure, with a low interest rate, minimal payments throughout the tenor and a repayment of remaining balance at the end of the term.

Howard Millar CEO of Stellwagen Capital and COO of Stellwagen Group said: “We have received great interest from around the world for our new innovative loan solutions, and we are delighted to conclude this important first loan transaction with CALC, an internationally recognised lessor. A second Airbus A321, with a similar list price will be financed by us for CALC in September.

“This new senior loan product delivers innovative and bespoke financing to airlines and lessors, secured against high quality and liquid aircraft collateral, like the Airbus A321. We have a pipeline of similar opportunities, which we will execute over the coming months.”

Last year, Stellwagen was acquired by special-purpose acquisition firm Acasta Enterprises for approximately $270 million. Under this acquisition, Millar said the company plans to have $5 billion assets under management by 2019. The firm expects to hit “close to $2.5 billion assets” by the end of 2017.

 

Alex Baldwin
By Alex Baldwin July 20, 2017 11:56