Air Lease Prices Public Offering of $1.1B in Senior Unsecured Notes



Air Lease Corporation has launched a public offering of $600 million in aggregate principal amount of 2.250% senior unsecured medium-term notes due January 15, 2023 and $500 million in aggregate principal amount of 3.250% senior unsecured medium-term notes due October 1, 2029.

The sale of the notes is expected to close on September 16, 2019, subject to satisfaction of customary closing conditions.

The 2023 notes will mature on January 15, 2023 and will bear interest at a rate of 2.250% per annum, payable semi-annually in arrears on January 15 and July 15 of each year, commencing on January 15, 2020.

The 2029 notes will mature on October 1, 2029 and will bear interest at a rate of 3.250% per annum, payable semi-annually in arrears on April 1 and October 1 of each year, commencing on April 1, 2020.

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.

Fifth Third Securities, J.P. Morgan Securities, SG Americas Securities and Wells Fargo Securities are acting as joint book-running managers for the note offering.

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