Mizuho Wins Multiple Aviation Finance Deal of the Year Awards for Labrador and Blackbird Transactions

July 10, 2017

Two transactions Mizuho successfully closed in 2016 were recently recognized as “Deals of the Year” for excellence in global aviation finance by leading industry sector publications Airfinance Journal (AFJ), Aviation News and Ishka Global

AFJ named the $928 million ($709 million of ABS debt and an E-Note) Labrador Aircraft ABS Portfolio Sale transaction that Mizuho led as sole structuring agent and sole bookrunner for GE Capital Aviation Services as their 2016 “Editor's Deal of the Year.” The award was given for representing the first-ever aircraft ABS portfolio sale into Asia with an E-Note. 

The successful transaction, driven by strong cross-border collaboration between Mizuho’s Structured Credit Group and Sales teams in the US and Hong Kong, was also named the 2017 Aviation News “Editor’s Deal of the Year” at the 2017 Aviation 100 Global Leaders Awards as well as Ishka’s “Best Americas Deal” at the Aviation Finance Innovation Festival in Dublin, Ireland. 

Mizuho’s growing structured credit strength and aviation finance capabilities were further recognized with the 2016 AFJ “Capital Markets Deal of the Year,” 2017 Aviation News “Overall Deal of the Year” and Ishka’s “Best Capital Markets Deal” awards for the $1 billion Blackbird ABS transaction. Mizuho served as joint lead structuring agent and joint lead bookrunner on Blackbird Capital’s $800 million offering of asset-backed secured notes collateralized by nineteen commercial aircraft and associated leases serviced by Air Lease Corporation.

The transaction featured a number of structural innovations pioneered by Mizuho’s Structured Credit Group, including the first-ever AA rated tranche and rated subordinated notes for favorable regulatory capital treatment and security deposits to support senior expenses, interest and scheduled principal shortfalls on the senior notes.

The AFJ, Aviation News and Ishka awards are selected by a panel of senior aviation finance executives.  

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