ALC prices latest bond offering

Yesterday Air Lease Corporation (ALC) priced its latest jumbo medium-term note (MTN) issuance with a record low rate for the seven-year tranche and its second lowest rate for the three-year paper. ALC treasurer, Daniel Verwholt, shared his thoughts on the transaction. “We were very pleased with the result. The combined pricing represented a blended funding cost of ~1.39% which is well inside our composite cost of funds.” The $1.1bn public offering comprises $600 million 0.80% senior unsecured medium-term notes due August 18, 2024 and $500 million 2.10% senior unsecured medium-term notes due September 1, 2028. “The three-year transaction at 0.80%