Vedder Price is pleased to announce that it represented Apollo Global Securities, BNP Paribas, Mizuho and RBC Capital Markets, as initial purchasers, in connection with the $622 million inaugural aviation loan ABS by PK AirFinance, a leading aviation lending platform and affiliate of Apollo. Apollo Global Securities acted as sole lead arranger and Redding Ridge Asset Management acted as structuring agent.

PK ALIFT Loan Funding 3 LP, Series 2024-1, issued five classes of notes with more than $622 million aggregate principal amount. The proceeds of the notes are being used by the issuer to acquire the rights to the economics of a portfolio of 122 senior secured aviation-related loans through the acquisition of 100% of a series of limited partnership interests of a PK AirFinance-managed origination vehicle. 

“We were pleased to advise Apollo and the other initial purchasers in this highly-significant transaction in the industry,” said Global Transportation Finance Shareholder Jeff Veber. “This ABS is a key step in the expansion of the strategic plans of Apollo and PK AirFinance. We look forward to working on future transactions in support of our clients for this ABS program.”

In addition to Mr. Veber, the Vedder Price team on the transaction was led by Shareholders Kevin MacLeod and Clay Thomas, with Associates Jillian Greenwald, Sarah Branch and Alexandra Davidson.