Air Lease Corporation (ALC) has priced its public offering of 10,000,000 shares of 6.150% fixed-to-floating non-cumulative perpetual preferred stock, Series A, par value $0.01 per share, with a liquidation preference of $25.00 per share, at a price to the public of $25.00 per share. The sale is expected to close on March 5, 2019. Dividends will accrue at a fixed rate for the first five years and then float within a three month LIBOR spread. Dividends are discretionary and non-cumulative. The preferred stock will rank senior to AL’s common stock and junior to all AL’s existing and future debt obligation.

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