Air Lease Corp (ALC) has added Royal Bank of Scotland (RBS) to the bank syndicate on its unsecured revolving credit facility.
The lender took a $60 million ticket that increased the size of the facility to $913 million from $853 million in the early third quarter, says Marc Baer, executive vice president of ALC, at the 2012 Dahlman Rose Global Transportation Conference in New York on 6 September.
The three-year revolving credit facility matures in May 2015 and is priced at 175bp over Libor plus a commitment fee of 37.5bp for unutilised commitments, according to a stock exchange filing. ALC can increase the size of the facility by up to $500 million from the initial $853 million.
Bank of Montreal, Citi, Commonweatlh Bank of Australia, JP Morgan, Wells Fargo and at least ten more banks participated in the facility.