June 25, 2013
Air Lease Corporation amends and extends $1bn Bank Warehouse Facility
Air Lease Corporation executed an amendment to its Bank Warehouse Facility. This facility, as amended, provides ALC with financing of up to $1bn. ALC is able to draw on the amended facility during an availability period that was extended to June 2015 with a subsequent 4 year term out option. The interest rate on the facility was reduced to LIBOR plus 2.25% on drawn balances (from LIBOR plus 2.50%) and reduced to 0.50% on undrawn balances (from 0.75%).