Raytheon

Orbis has acted as the exclusive adviser to Raytheon Company in relation to the securitisation of its general aviation sales finance portfolio. Orbis was first mandated by Raytheon in March 2002 to assist Raytheon reduce its sales finance exposure.

Orbis structured a ground breaking credit enhanced securitisation that was a unique solution tailored to meet Raytheon’s requirements as it went through a period of corporate change. In September 2003 Orbis closed the $337m transaction which was the first securitisation to incorporate the financing of fractional shares in corporate aircraft.

Orbis was responsible for data analysis, financial modelling and deal structuring as well as arranging and placing the credit enhancement. The transaction was wrapped by MBIA and funded by Bank of America through an asset-backed commercial paper conduit.

In October 2006, Orbis closed a follow on $138m transaction building on the success of the first transaction.

Raytheon is an industry leader in defence and government electronics, space, information technology, technical services, and business aviation and special mission aircraft.

For more information about Raytheon visit: www.raytheon.com.