Air Lease Amends, Extends $2.66B Credit Facility

Air Lease amended and extended its four-year unsecured revolving credit facility with JPMorgan Chase Bank as administrative agent and the lenders named therein whereby the company extended the maturity date from May 5, 2018 to May 5, 2019 and increased the revolving commitments thereunder by an additional $350 million. The syndicated unsecured revolving credit facility remains priced at LIBOR plus 125 basis points with a 25 basis point facility fee, subject to reductions based on improvements in the company’s credit ratings.

Prior to the transaction, lenders held revolving commitments totaling $2.31 billion that matured on May 5, 2018. As a result of the transaction, lenders hold revolving commitments totaling $2.49 billion that mature on May 5, 2019, and lenders hold revolving commitments totaling $175 million that mature on May 5, 2018.

“During the course of 2015, we have grown our revolving credit facility from $2.1 billion to over $2.6 billion. This represents an increase of 26% and now includes 31 financial institutions. We are grateful for the continuing support from our banking group as our balance sheet strengthens with increased access to flexible and attractively priced capital,” said Gregory B. Willis, senior vice president and chief financial officer of Air Lease.

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