LOS ANGELES - Air Lease Corporation (NYSE: NYSE:AL), a leading aircraft leasing company, has priced a public offering of $500 million in senior unsecured medium-term notes with a 5.100% interest rate, due on March 1, 2029. The transaction is scheduled to close on January 24, 2024, subject to customary closing conditions.
The notes, which will mature on March 1, 2029, are set to pay interest semi-annually on March 1 and September 1, starting from September 1, 2024. Air Lease intends to allocate the net proceeds from this offering for general corporate activities. These activities may encompass the acquisition of commercial aircraft and repayment of existing debt.
The offering is managed by a syndicate of banks, with BMO (TSX:BMO) Capital Markets Corp., BofA Securities, Inc., Mizuho Securities USA LLC, MUFG Securities Americas Inc., and Wells Fargo (NYSE:WFC) Securities, LLC serving as joint book-running managers.
This offering is being conducted under a shelf registration statement filed with the Securities and Exchange Commission (the SEC) on May 7, 2021. The notes are available through a prospectus supplement and the accompanying base prospectus, which, along with any additional filings by the company with the SEC, can be obtained from the managing banks or by visiting the SEC's EDGAR database online.
The company's press release includes forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, regarding the expected completion of the offering and the use of proceeds. However, these statements are not assurances of future performance and are subject to various factors that could cause actual results to differ materially from those anticipated.
The information in this article is based on a press release statement from Air Lease Corporation.
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