GECAS to Sell Aircraft Portfolio to Mizuho, Mertiz Securities

The Korea Economic Daily reported that Mizuho Securities and South Korea’s Meritz Securities will establish a $900 million fund in order to acquire a portfolio of 20 aircraft from GE Capital Aviation Services.

The Daily noted that Meritz will supply both mezzanine and subordinate financing by way of equities for a total of $244.5 million. Separately, Mizuho Securities will issuie asset-backed securities in order to raise $655 million.

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