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 from May 5, 2019 to May 5, 2020 and increased total revolving commitments to $3.13 billion from $2.78 billion, across 39 financial institutions.

The facility remains priced at LIBOR+ 125 basis points with a 25 basis point facility fee, subject to reductions based on improvements in the company’s credit ratings. Under the facility, lenders hold revolving commitments totaling $2.78 billion that mature on May 5, 2020, with the remaining revolving commitments maturing prior to May 5, 2020.

“The unsecured bank revolver is a key advantage in the company’s capital structure that provides us with both flexibility and speed when deploying capital,” said Gregory B. Willis, senior vice president and chief financial officer of the Air Lease. “We believe our financial results over the past six years have earned the confidence of our banking group and led to the upsizing and extension of the facility.”