21-Feb-2013 7:39 AM

Placement of KGAL's SkyClass 58 aviation fund begins

KGAL GmbH & Co KG stated (18-Feb-2013) it is launching the placement of its new aviation fund. The SkyClass 58 offers private investors the opportunity to indirectly participate in up to 12 A319s. The offer currently involves one aircraft. Depending on the placement's progress, a further eleven could be added. With a projected period of five years, the company said this "is is a genuine short-dated bond". All aircraft leases will run until the projected sale of the aircraft in 2018. The lessee is easyJet and the guaranteeing holding company easyJet plc. The SkyClass 58 offers investors the chance of projected distributions/withdrawals of 8% p/a and the first pro rata distributions/withdrawal falls due as early as 30-Jun-2013. GOAL, a JV between Lufthansa and KGAL, will also be responsible for maintaining the value of the aircraft financed under the KGAL's newly operational aviation fund. The investment volume is around EUR14.8 million with minimum participation of EUR10,000 plus 3% share premium. [more - original PR]

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