Air Lease Corporation (ALC) has announced the pricing of its public offering of US$700.0 million aggregate principal amount of 2.875% senior unsecured medium-term notes due January 15, 2026. The sale of the notes is expected to close on August 17, 2020, subject to satisfaction of customary closing conditions.
The notes will mature on January 15, 2026 and will bear interest at a rate of 2.875% per annum, payable semi-annually in arrears on January 15 and July 15 of each year, commencing on January 15, 2021. The Company intends to use the net proceeds of the offering for general corporate purposes, which may include, among other things, the purchase of commercial aircraft and the repayment of existing indebtedness.