Air Lease Corporation amends and extends $1 Billion bank warehouse facility

Victoria
By Victoria June 26, 2013 10:20

Air Lease Corporation amends and extends $1 Billion bank warehouse facility

 

On June 21, 2013, Air Lease Corporation executed an amendment to its Bank Warehouse Facility. This facility, as amended, provides ALC with financing of up to $1 billion. ALC is able to draw on the amended facility during an availability period that was extended to June 2015 with a subsequent 4 year term out option. The interest rate on the facility was reduced to LIBOR plus 2.25% on drawn balances (from LIBOR plus 2.50%) and reduced to 0.50% on undrawn balances (from 0.75%).

“We are very pleased to close the amendment and extension to our bank warehouse facility. This facility furthers ALC’s strategic goals of reducing our usage of secured debt, reducing interest expense, and extending the weighted average life of our debt,” said Gregory B. Willis, Senior Vice President and Chief Financial Officer of Air Lease Corporation.

Victoria
By Victoria June 26, 2013 10:20
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