Air Lease Corporation has announced the pricing on September 10, 2018 of its public offering of US$700 million aggregate principal amount of 3.500% unsecured senior notes due 2022 and US$500 million aggregate principal amount of 4.625% unsecured senior notes due 2028. The sale of the Notes is expected to close on September 17, 2018, subject to satisfaction of customary closing conditions.
The 2022 Notes will mature on January 15, 2022 and will bear interest at a rate of 3.500% per annum, payable semi-annually in arrears on January 15 and July 15 of each year, commencing on January 15, 2019. The 2028 Notes will mature on October 1, 2028 and will bear interest at a rate of 4.625% per annum, payable semi-annually in arrears on April 1 and October 1 of each year, commencing on April 1, 2019.
The Company intends to use the net proceeds of the offering for general corporate purposes, which may include, among other things, the purchase of commercial aircraft and the repayment of existing indebtedness.
