Investors are continuing to back aircraft leasing companies even in the midst of the global pandemic, demonstrated by the success of the latest bond from Air Lease Corporation (ALC). The lessor went to market with a planned $500 million five year unsecured bond, maturing July 1, 2025, but on the back of strong demand, the issuance was upsized to $850 million at +3.25 spread to yield a coupon of 3.375%. BofA Securities, JPMorgan, MUFG and Wells Fargo are joint bookrunners. Due to the six times oversubscription, attracting all of the largest institutional investors such as Fidelity, BlackRock, GIC, Loomis, Vanguard,

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