Air Lease Corporation has announced the pricing of its public offering of US$750.0 million aggregate principal amount of 2.20% senior unsecured medium-term notes due January 15, 2027 (the 2027 notes) and US$750.0 million aggregate principal amount of 2.875% senior unsecured medium-term notes due January 15, 2032 (the 2032 notes and, together with the 2027 notes, the notes). The sale of the notes is expected to close on January 12, 2022, subject to satisfaction of customary closing conditions.
The 2027 notes will mature on January 15, 2027 and will bear interest at a rate of 2.20% per annum, payable semi-annually in arrears on January 15 and July 15 of each year, commencing on July 15, 2022. The 2032 notes will mature on January 15, 2032 and will bear interest at a rate of 2.875% per annum, payable semi-annually in arrears on January 15 and July 15 of each year, commencing on July 15, 2022.
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. (£1.00 = US$1.35 at time of publication).
