Air Lease priced its public offering of $500 million aggregate principal amount of 3.625% unsecured senior notes due 2027.

The notes were offered to the public at a price of 98.241% of their face amount. The sale of the notes is expected to close on March 8, 2017, subject to satisfaction of customary closing conditions.

The notes will mature on April 1, 2027 and will bear interest at a rate of 3.625% per annum, payable semi-annually in arrears on April 1 and October 1 of each year, commencing on October 1, 2017.

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.

BNP Paribas Securities, Citigroup Global Markets, J.P. Morgan Securities and RBC Capital Markets are acting as joint book-running managers for the offering of the notes.