Aircraft leasing company Air Lease amended and extended its senior unsecured revolving credit facility, extending the final maturity date of the facility from May 5, 2027, to May 5, 2028, and amending the total revolving commitments to approximately $7.8 billion from $7.4 billion across 52 financial institutions as of May 5, 2024. JPMorgan Chase is the administrative agent for the facility.
The senior unsecured revolving credit facility accrues interest at adjusted term SOFR plus a margin of 1.05% per year with a 0.2% facility fee, each subject to adjustments based on the company’s credit ratings.
“We are pleased to announce the extension of our senior unsecured revolving credit facility to 2028 and the upsize of the facility to $7.8 billion,” Gregory B. Willis, executive vice president and CFO of Air Lease, said. “This revolving credit facility remains a key component of our funding strategy and its continued expansion reflects the strength of ALC’s platform and credit metrics. We would like to offer our sincere appreciation to our financial partners for their continued support.”
