ALC prices $550m unsecured senior notes offering

Eleanor Steed
By Eleanor Steed January 12, 2018 10:39

ALC prices $550m unsecured senior notes offering

Air Lease Corporation (ALC) has priced its public offering of $550 million aggregate principal amount of 2.50% unsecured senior notes due 2021 and $700 million aggregate principal amount of 3.25% unsecured senior notes due 2025.

The 2021 Notes were offered to the public at a price of 99.381% of their face amount and the 2025 Notes were offered to the public at a price of 98.717% of their face amount. The sale of the Notes is expected to close on January 16, 2018.

The 2021 Notes will mature on March 1, 2021 and will bear interest at a rate of 2.50% per annum, payable semi-annually in arrears on March 1 and September 1 of each year, commencing on September 1, 2018. The 2025 Notes will mature on March 1, 2025 and will bear interest at a rate of 3.25% per annum, payable semi-annually in arrears on March 1 and September 1 of each year, commencing on September 1, 2018.

ALC intends to use the net proceeds of the offering for general corporate purposes, which may include the purchase of commercial aircraft and the repayment of existing indebtedness.

Joint bookrunners are JPMorgan, Merrill Lynch, SG Securities Americas and Wells Fargo.

Eleanor Steed
By Eleanor Steed January 12, 2018 10:39