ALC taps Canadian bond market with C$500 MTN offering

Air Lease Corporation (ALC) has priced its offering of C$500 million 5.4% senior unsecured medium-term notes (MTNs). Subject to satisfaction of customary closing conditions, the sale of the notes is expected to close on 29 November 2023. The notes, which will mature on 1 June 2028, bear an interest rate of 5.4% per annum, payable in Canadian dollars twice-yearly in arrears on 1 June and December of each year (commencing on 1 June 2024). The joint bookrunners for the offering of the notes are BMO Capital Markets, BofA Securities, RBC Capital Markets, Scotiabank and TD Securities, while CIBC Capital Markets