Air Lease Corporation Announces Pricing of Public Offering of $600 Million of 3.375% Unsecured Senior Notes Due 2021
Air Lease Corporation (NYSE: AL) announced the pricing of its public offering of $600 million aggregate principal amount of 3.375% unsecured senior notes due 2021. The Notes were offered to the public at a price of 99.059% of their face amount. The sale of the Notes is expected to close on April 11, 2016, subject to satisfaction of customary closing conditions.
The Notes will mature on June 1, 2021 and will bear interest at a rate of 3.375% per annum, payable semi-annually in arrears on June 1 and December 1 of each year, commencing on December 1, 2016.
The Company intends to use the net proceeds of the offering for general corporate purposes, which may include, among other things, the purchase of commercial aircraft and the repayment of existing indebtedness.
J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, RBC Capital Markets, LLC and SunTrust Robinson Humphrey, Inc. are acting as joint book-running managers for the offering of the Notes, BNP Paribas acted as Passive Bookrunner.
