Air Lease Prices Offering of $301MM Medium-Term Notes

Air Lease Corporation priced its offering of its C$400 million ($301 million) aggregate principal amount of 2.625% senior unsecured medium-term notes due December 5, 2024.

The sale of the notes is expected to close on December 5, 2019, subject to satisfaction of customary closing conditions.

The notes will mature on December 5, 2024 and will bear interest at a rate of 2.625% per annum, payable semi-annually in arrears on June 5 and December 5 of each year, commencing on June 5, 2020. Owners of the notes will receive payments relating to their Notes in Canadian dollars.

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.

BMO Nesbitt Burns, Merrill Lynch Canada, RBC Dominion Securities and TD Securities are acting as joint book-running managers for the offering.

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