JPMorgan Increases Air Lease Credit Facility to $5.8B
MAY 10, 2019 - 6:45 am
Air Lease amended and extended its unsecured revolving credit facility with JPMorgan Chase as administrative agent, increasing the total revolving commitments to approximately $5.8 billion from $4.6 billion, across 50 financial institutions.
The syndicated 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 the company’s credit ratings.
“We are pleased to announce the extension and upsize of our revolving credit facility which now stands at $5.8 billion, a 27% increase since the beginning of 2019,” said Gregory B. Willis, executive vice president and chief financial officer of Air Lease. “Our revolver is now the largest facility in the industry, and represents a significant portion of our liquidity profile as we expect to enter into a period of accelerated growth. The success of this facility is reflective of ALC’s strong credit metrics and global banking relationships, and we would like to express our appreciation to our lenders for their support.”
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