On September 26, 2012 ALC issued $450.0 million in aggregate principal amount of senior unsecured notes due 2016 to Qualified Institutional Buyers.
The Notes will mature on January 15, 2016 and will bear interest at a rate of 4.500% per annum, payable semi-annually in arrears on January 15 and July 15 of each year, commencing on January 15, 2013.
On October 3, 2012, ALC issued an additional $50 million aggregate principal amount of 4.500% senior unsecured notes due 2016 (the “Additional Notes” and, together with the Existing Notes, the “Notes”) accounting to $500 million.