ALC to offer $400m in senior notes due 2020

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Air Lease Corporation (ALC) plans on offering $400 million in aggregate principal amount of senior unsecured notes due 2020. The interest rate and other terms of the notes will be determined at the time of the pricing of the offering and will depend on market and other conditions, says ALC.

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.

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 notes are being offered pursuant to an effective shelf registration statement that the lessor previously filed with the Securities and Exchange Commission.