NY Boutique Pitches Aviation Pool

May 27, 2005
Mission Capital Advisors is peddling a $26.5 million portfolio of aviation loans. The New York- based investment boutique is soliciting bids from investors on behalf of a regional bank, said David Tobin, principal at Mission, who declined to name the seller. Tobin said the bank obtained the portfolio through the acquisition of another bank.
The loans are secured by various single and multi-engine, turbo-prop and turbine aircrafts from manufacturers such as Cessna, Beech, Piper, Mooney and Bombardier. The portfolio is geographically diverse and the borrowers have high FICO scores, Tobin added. Mission Capital expects to select the winning bidder next month.
Several aircraft deals are expected to come to market this year as some firms either divest their aviation portfolios or financing arms at various aircraft manufacturers tap the securitization market.