ALC adds RBS to revolving credit facility

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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.