Air Lease Corporation (ALC) has priced its $400 million senior unsecured notes at 4.75%. The notes were offered to the public at a price of 100% of par.
The notes, which are due in March 2020, are payable semi-annually in arrears on 1 March and 1 September of each year, commencing on 1 September 2013.
BofA Merrill Lynch, Deutsche Bank Securities, JP Morgan, BMO Capital Markets, Citigroup, Credit Suisse Securities, RBC Capital Markets, RBS, and Wells Fargo Securities are acting as joint book-running managers for the offering of the notes.
The lessor intends to use the proceeds of the offering to fund the acquisition of commercial aircraft and for other general corporate purposes, including reducing outstanding obligations under one of its revolving credit facilities.
The sale of the notes is expected to close on 5 February 2012.