Air Lease amended and extended its senior unsecured revolving credit facility by extending the maturity date of the facility from May 5, 2023, to May 5, 2025, and increasing the total revolving commitments to approximately $6.4 billion from $6.2 billion across 50 financial institutions. JPMorgan Chase Bank is the administrative agent for the facility.

The senior 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 Air Lease’s credit ratings.

“We are pleased to announce the extension of our senior unsecured revolving credit facility by two years to 2025 and upsize of the facility to $6.4 billion, a more than 35% increase since the beginning of 2019,” Gregory B. Willis, executive vice president and CFO of Air Lease, said. “The success of this facility is reflective of ALC’s investment grade credit metrics and the strength of our platform, and we appreciate the ongoing support of our lender group. This facility remains a foundational aspect of ALC’s funding strategy, providing us with a highly cost efficient and flexible financing tool to drive value for our shareholders.”