Air Lease Increases Revolving Credit Facility to $4.5B

Air Lease amended and extended its unsecured revolving credit facility with JPMorgan Chase Bank as administrative agent and the lenders named therein whereby the company extended the maturity date of the substantial majority of the revolving commitments from May 5, 2021 to May 5, 2022 and increased total revolving commitments to $4.5 billion from $3.9 billion, across 50 financial institutions.

The syndicated unsecured revolving credit facility remains priced at LIBOR plus 105 basis points with a 20 basis point facility fee, each subject to adjustments based on changes in the company’s credit ratings.

“We are extremely pleased with the extension and upsize of our revolving credit facility which now stands at $4.5 billion, an 18% increase since the beginning of 2018,” said Gregory B. Willis, executive vice president and chief financial officer of Air Lease. “Our revolver remains an important source of committed liquidity for ALC, and the success of this facility is reflective of ALC’s strong credit metrics and global banking relationships. We are very appreciative of the support from our lenders.”

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